LendInvest updates buy-to-let product range

LendInvest has refreshed its buy-to-let product range, cutting rates and raising loan-to-values (LTVs) now valuers have begun visiting residential properties after nearly two months of lockdown.

In the aftermath of the Covid-19 crisis and lockdown restrictions, the online property lender tightened its lending and cut LTVs to minimise risk.

However, the lender said as it has seen valuers return to the market after the government reopened the housing market in England, it has raised LTVs up to 75 per cent for five-year fixed standard properties.

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And LendInvest has reduced rates across its range, so its two-year fixed products start from 2.99 per cent and five-year fixes from 3.99 per cent.

The online property lender has also reintroduced its £150 valuation fee across standard properties and small houses in multiple occupation (HMOs) and has maintained its £500 legal fee cashback offer on select buy-to-let mortgages.

LendInvest will be lending on standard properties and small HMOs up to six rooms and is supporting deals up to £750,000.

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“While we kept lending throughout lockdown, enabling brokers and their clients to queue their cases for when valuers returned, we’ve had to be flexible to where the market was at,” LendInvest said in a blog on its website.

“This has meant reviewing and updating our rates and risk appetite as the lockdown continued.

“Lending throughout the crisis has put us in a strong position to know what your clients need now valuers have returned; we’ve remained close to the market and seeing the deals submitted has helped inform our refreshed product range.”

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