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TODAY'S OTHER NEWS

LendInvest introduces products for first-time landlords and student lets

Lendinvest has revamped its buy-to-let range, with new products for student lets and deals for first-time landlords, while the lending platform has increased its maximum loan-to-values (LTVs) to 80% with a maximum loan size of £500,000. 

The lender has also increased its maximum loan size for standard properties to £1.5m, with maximum loan size for MUFB cases increasing to £3m with LTVs up to 75%. 

LendInvest will be launching a funding offering for first-time landlords, and student let HMOs up to six bedrooms. 

LendInvest BTL customers will also receive a £500 cashback contribution towards legal fees when they take out a 5-year fixed BTL mortgage for standard property types on products up to 75% LTV. 

Andy Virgo, director for buy-to-let at LendInvest, commented: “Landlords are looking to move fast, and stay flexible when considering new projects at this time - in order to do that, they need the right products available to them. 

“With these new updates, I am confident we are not only able to deliver competitive funding options, but also the right team and expertise behind them to act as a vital partner for our customers as they seek to expand their portfolios.”

Customers are also eligible for a £200 cashback on all applications where Open Banking is used.

Lucy Barrett, managing director at Vantage Finance, commented: “These product improvements are yet another clear affirmation of LendInvest's reputation for listening to, and supporting BTL landlords. 

“The addition of larger loans, higher LTVs and support for HMO landlords with reduced fees will be a winning combination for landlords to grow their businesses throughout the ongoing SDLT holiday."

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