LendInvest slashes rates on vanilla residential bridging range
London, 11 October 2016 – Online mortgage lender LendInvest has cut the interest rates on its “Tier 1” residential bridging loan range for simple, vanilla cases.
Prices have been cut by as much as 11 basis points per month across the full range of loan-to-values (LTV). The details of the new pricing are below:
| LTV | New monthly interest rate |
| Up to 50% | 0.64% |
| Up to 60% | 0.69% |
| Up to 65% | 0.74% |
| Up to 70% | 0.84% |
| Up to 75% | 0.94% |
LendInvest introduced a tiered structure for its bridging loan range in June 2016.
Simple, vanilla residential bridging cases qualify for the lowest rates on offer with Tier 1. Tier 2 is designed for residential cases which fall outside of this criteria – for example HMOs or heavy refurbishment cases involving structural, conversion or extension work.
Matthew Tooth, Head of Distribution at LendInvest, said: “This price cut ensures that LendInvest can offer brokers and their clients not only the speedy, efficient service for which we have become known, but also some of the most competitive rates in the market.
“We have worked very hard at building the most diverse capital base in the specialist lending market. Because of those varied funding sources and our proven track record we are now able to pass on the cost savings to end borrowers from a position of strength.”
Last week LendInvest reported its third consecutive year of profits, with gross revenues rising 133% to £32 million.
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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.