LendInvest launches new Stepped Bridge product
London, 22 November 2022 – LendInvest, the UK’s leading platform for property finance, has announced the launch of a new Stepped Bridge product range to provide simpler access to short-term finance.
A Stepped Rate bridging loan is one where the rate will increase at intervals throughout the term of the loan, rewarding borrowers looking for even shorter-term finance.
Rates start from 0.74% on the unregulated residential 75% LTV bridging product, with broadening to all security types and LTVs to follow in December.
This product is suitable for landlords looking to complete light refurbishments to increase rental yields, or for SME developers looking to generate additional capital, and investors looking for fast acquisitions before refinancing.
The Stepped Bridge can be accessed through a dedicated BDM, or directly via the LendInvest Bridging Portal, and borrowers are eligible for free valuation and legal fees when exiting onto the standard LendInvest Buy-to-Let range.
Leanne Ardron, Head of Bridging at LendInvest, said: “At a time where product innovation is key, the team at LendInvest continues to deliver for brokers and their clients. By listening to how best we can support borrowers looking to generate additional capital and move quickly to acquire a property before exploring refinancing options, we hope to continue our customer first ethos through tailored product development.”
To view the full product range, visit the LendInvest Product Guide.
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.