LendInvest is the latest property lender to increase its maximum loan-to-values (LTVs), indicating increased confidence in the property market as lockdown restrictions loosen.
At the start of the Covid-19 crisis LendInvest tightened its lending, including reducing its maximum LTV across its product offerings.
Now, the alternative property finance platform has said that it has raised its maximum LTV to 75 per cent for residential bridging, auction finance and bridge-to-let products.
It will lend up to 65 per cent LTV for commercial and land bridging deals and 70 per cent LTV for semi-commercial projects.
Last month, LendInvest outlined the benefits of development exit finance during the pandemic, claiming that the long loan terms and cheaper rates are useful for developers that need longer to sell units in difficult market conditions.
The online property lender has now increased its development exit LTV to 70 per cent plus rolled interest.
Read more: LendInvest updates buy-to-let product range
“As lockdown restrictions have begun to loosen and more activity returns to the market we have decided to refresh our bridging finance range,” LendInvest said in a blog post on its website.
“At the start of the crisis we decided to limit our risk by reducing our max LTVs across our product range.
“Lending throughout the crisis has given us valuable insight on what customers want from their lenders now things are slowly returning to normal.”
This follows similar news from Landbay which has raised its LTVs to pre-lockdown levels as confidence returns to the market.