INTERMEDIARIES
Start-to-finish certainty
Know your Buy-to-Let exit before you start your Bridge. Our Bridge-to-Let process checks compatibility for both at the same time, and you can produce a Buy-to-Let DIP ready to pick up when a Bridge completes.
One portal
Legal contributions
Valuation incentive
Two procuration fees
How it works
Submit Bridge-to-Let
We will assess your Bridge, and then also confirm if the exit will fit our Buy-to-Let criteria, at which point you can submit the Buy-to-Let and receive a DIP through the Mortgages Portal.
Complete your Bridge
Our team will be in touch throughout your customer’s project to check progress, and be ready to proceed with their Buy-to-Let the moment it is completed.
Apply for Buy-to-Let
Their DIP will be stored in the Mortgages Portal, ready for you to reignite with up-to-date credit checks, then proceed to a full application, where they will receive contributions towards valuations and legal costs.
A better way to start Buy-to-Let projects
Manage Bridge and Buy-to-Let in one place in the Mortgages Portal
Contribute up to £500 towards legal costs
Contribute up to £500 valuation costs
Choose from our current rates at the time of application
Full flexibility – we don’t lock you in to our Buy-to-Let products from day 1
Brokers receive two procuration fees.
FAQs
What happens if criteria changes between the Bridge and the Buy-to-Let?
You are not locked into our Buy-to-Let products, so if the criteria changes by the time you’re ready to exit onto your Buy-to-Let mortgage and your property is no longer eligible, you are free to exit with another Buy-to-Let lender.
Will you have to conduct a valuation for the Buy-to-Let?
Yes we will, but your customer will receive a contribution towards the cost of valuation.
What incentive is offered for valuations?
For single, standard property, we will provide support towards the cost of valuation up to £500. For portfolio, or non-standard property, we will provide support towards the cost of valuation up to £500. If the cost of valuations, exceeds £500, the difference will be payable by the customer.
Can customers choose another lender for their Buy-to-Let?
Yes, customers are not locked into our Buy-to-Let products, but the process will be faster and without fees if you stick with LendInvest Mortgages.
Will the Buy-to-Let be subject to a full underwrite?
Yes, when you take out the Bridge-to-Let you will be able to produce a DIP for your Buy-to-Let exit. When you are ready to exit the bridge, you will need to submit a full application and a full underwrite will take place, as we would for any Buy-to-Let application.
What procuration fees are paid to the broker?
You will receive two procuration fees upon completion of the applications. One for the initial Bridge, and another for the Buy-to-Let.
What happens if the customer’s circumstances change and they decide to sell?
They are not locked into a Buy-to-Let exit with us, so they are free to do what they want with the property when the Bridge is completed.
Will the Buy-to-Let be subject to a full legal process?
Yes, however we intend to use the same solicitors for both transactions to make the process seamless and they will not be charged for the BTL legal work.
Does the same broker have to carry out both the bridge and the Buy-to-Let?
No. All of the data is stored in the Mortgages Portal so if for some reason a customer changes broker, we will be able to retrieve the details of their existing Bridge with us to access the Buy-to-Let.
Can I use my own solicitor at both stages?
Yes, but we advise Dual Representation because it is faster. Legal fees will be payable if you use your own representation at the Buy-to-Let stage, whereas they will be free with Dual Representation to cover LendInvest’s legal fee.
Are Personal Guarantees required on Buy-to-Let if they already have one the Bridging application?
Yes, we require Personal Guarantees on our Buy-to-Let applications.