Base rate cut to 0.25%: LendInvest responds
The Bank of England’s base rate was cut to a new record low of 0.25% today, following the UK’s vote to leave the European Union.
Commenting on the news, Ian Thomas, Co-Founder and Director of LendInvest, said:
“The fallout from Brexit could spell good news for professional and experienced property investors. If houses prices do cool as predicted, investing in property will become even more enticing, particularly if today’s rate cut translates into cheaper financing. Added to this, a protracted house price drop will likely deter some people from buying homes. But they will still need somewhere to live, providing a further boost to the landlord market.”
About LendInvest
LendInvest is the UK’s leading platform for property finance.
LendInvest offers short-term, development and buy-to-let mortgages to intermediaries, landlords and developers. Its proprietary technology and user experience are designed to make it simpler for both borrowers and investors to access property finance.LendInvest has lent over £3bn of short term, development and buy to let mortgages.
Its funders and investors include global institutions such as HSBC, Citigroup and NAB, and, in 2019, it was the first Fintech to securitise a portfolio of BTL mortgages. The company has reported annual profitable growth since 2015 and was named Digital Innovation Award Winner at the Sunday Times Tech Track 100 Awards, and both Specialist Lender and Buy-to-Let Lender of the Year for 2019 at the last NACFB awards.