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Buy To Let
November 24 2020

LendInvest updates its buy-to-let range

Michael Lloyd Industry News, News, Property, Top 3 Andy Virgo, LendInvest

LendInvest has updated its buy-to-let range by launching a new product and cutting borrower rates.

The online property lender has introduced a five-year fixed rate product available for 3.54 per cent at a loan-to-value (LTV) of 75 per cent.

The lender also reduced rates on two-year fixed rate products. The rate for its two-year fix at 70 per cent LTV has dropped from 3.29 per cent to 3.19 per cent and the rate for the two-year at 75 per cent LTV has fallen from 3.49 per cent to 3.29 per cent.

Furthermore, for individual and corporate landlords, LendInvest reduced rates to 3.64 per cent for both of its 75 per cent LTV products.

Read more: LendInvest predicts “strong” future for P2P property development

Read more: LendInvest heralds benefits of bridging finance in uncertain times

“A close working relationship with our brokers and professional partners has allowed the team to ensure the product suite we have on offer reflects what our landlords need right now, and our risk appetite is positioned correctly,” said Andy Virgo, sales director at LendInvest.

“We are heading into the new year with a huge capacity to lend, and we have coupled these product updates with further adjustments to our criteria to reflect that.”

Read more: LendInvest welcomes stamp duty and planning permission changes

In June, LendInvest increased its maximum LTVs across its bridging range following the easing of lockdown restrictions and the subsequent increased confidence in the property market.

European P2P market to fully recover by Q4 2021 CrossLend offers its data analytics service free of charge

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