The Buy-to-Let market in the UK is evolving: what was once dominated by individual investors the sector has now shifted primarily towards professional landlords. 

Data backs this up as alternative lenders (like LendInvest) report that over 70% of BTL mortgages were written for limited companies compared to only 20% in 2015.

Today’s landlord operates at a different pace than the individual investor. They often delicately balance acquisitions, refurbishments and refinancing multiple assets. 

The traditional mortgage process – outdated risk assessments, slow approvals, and a seemingly never-ending pile of paperwork – is no longer adequate to accommodate the needs of today’s property investors.

Alternative lenders of today need to embrace technology to fit the needs of their brokers. That’s why at LendInvest we’re committed to a digital-first approach to BTL lending. 

Today we double down on that commitment by announcing that we have simplified the product transfer process in our Mortgages Portal.

Product Transfer vs Remortgage

While a product transfer and a remortgage involve switching mortgage deals, a product transfer is getting a new mortgage with your existing lender, whereas a remortgage involves a new mortgage with a new lender. 

Given economic factors like inflation, cost of living and volatile swap rates that impact fixed interest rates combined with the low 5-year rates during the pandemic are set to expire it makes sense for both product transfer and remortgages to be in high demand. 

To support their client’s needs, brokers need to have access to solutions that are efficient and maximise their costs. For many BTL borrowers, a hassle-free product transfer underpinned by technology is the right solution.

Cutting the Complex on Product Transfers

We listened to feedback from our brokers, and we’ve made some improvements to our Product Transfer process in our Mortgages Portal. Our updates will make the process simpler, saving brokers time and borrower’s money.

Here’s what’s new:

• Automated conduct checks on the existing morgage, enabling pre-populated product options.

• Where possible, use of AVM allowing instant valuation validation.

• Option to revert to physical valuation where AVM doesn’t meet required amounts.

We’ll email you and your client 90 days before their current term ends, and more information is available in the Mortgages Portal.