LandInvest makes changes to range of BTL products

LandInvest has made a series of changes to its buy-to-let product range.

The property finance platform has raised its maximum loan size for MUFB properties to £3m and reduced ICR for basic rate taxpayers. 

LendInvest is now offering a maximum loan size for MUFB properties up to £1m at 70% loan-to-value (LTV), £1.5m up to 65% LTV and will now accept applications up to £3m at a maximum of 60% LTV. 

The lender 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 is currently offering a series of Summer Special offers, which will run to the 31 of August 2020. 

The lender is offering a two-year fixed rate deal at 75% LTV at a rate of 3.49%, with a maximum loan size of £750,000. 

Meanwhile, there is a five year fixed rate deal offered at 70% LTV, available at a rate of 3.69% and 75% LTV product available at 3.59%, or 3.69% with a 4% ICR. 

Andy Virgo, director for 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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