"After a great year for the product, the team are now all systems go in getting more, good quality deals through the door."
The club’s member firms will now be able to register with LendInvest and access its full range of buy-to-let and HMO mortgage products.
LendInvest’s two-year fixed rates currently start from 2.89% and five-year fixed rates from 3.19%. ICR assessment rate is 5% across all products, with the exception of the five-year fixed interest product which remains at 3.6%.
In January, LendInvest increased the maximum loan size for both large HMOs and MUFBs to £3,000,000, and introduced a large loan range for standard properties and small HMOs, with products available for up to £2m at a maximum of 70% LTV.
Ian Boden, sales director at LendInvest, commented: “We are very excited to be announcing this partnership with one of the largest, and longest-operating mortgage clubs in the market. Experience is crucial in our industry, and it’s something Legal & General aren’t short of.
“After a great year for the product, the team are now all systems go in getting more, good quality deals through the door. Working with a mortgage club with Legal & General’s expertise is a fantastic way to kick off our distribution plans for the year.”
Danny Belton, head of lender relationships at L&G Mortgage Club, added: “Although LendInvest is a relative newcomer to the BTL market, their products and criteria offer another great option for many landlords. I am delighted to add LendInvest to the Legal & General Mortgage Club lender panel so that we can work in partnership to provide our members with access to their proposition.”
