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.
“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.”
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.