Mortgages

LendInvest increases loan sizes and reduces ICR in criteria refresh

Rozi Jones
|
11th August 2020
Andy Virgo LendInvest
"We are consistently listening to our broker partners and monitoring the market post lockdown to ensure we are responding effectively to what landlords need"

LendInvest has made a series of changes to its buy-to-let product suite.

The lender has increased its maximum loan size for MUFB properties up to £1 million for 70% LTV, £1.5 million up to 65% LTV and will now accept up to £3 million up to 60% LTV.

LendInvest has also reduced its ICR to 125% at 4% for basic rate taxpayers on their five year pay rate product enabling landlords greater leverage for lower yielding properties.

LendInvest currently offers a two-year fixed rate at 3.49% up to 75% LTV with a maximum loan size of £750,000. Five-year fixed rates include a 70% LTV product at 3.69% and a 75% LTV product from 3.59% or 3.69% with a 4% ICR.

Andy Virgo, director of buy-to-let at LendInvest, said: “We are consistently listening to our broker partners and monitoring the market post lockdown to ensure we are responding effectively to what landlords need to keep their business moving forward in a somewhat unique environment. The time is right to make these changes, and is the start of further enhancements to our proposition through the rest of the year.”

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