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October 11, 2018

LendInvest accelerates volume of BTL product applications with significant rate reductions

 

  • Dropped its headline 5 year fixed rate loan to 3.60% pay rate, with 3.60% ICR
  • Product fees reduced to 1% for all standard property and HMO mortgages
  • Valuation fee is now £100, with legal costs covered for standard property cases

 

London, 11 October 2018 – LendInvest, the UK’s leading online platform for property finance, has reduced rates and product fees across its Buy-to-Let product range.

The pay rate for LendInvest’s five year fixed rate product has dropped to 3.60%, with the ICR calculation at a pay rate of 3.60%.

Product fees for all BTL mortgages on standard property and HMO cases has been reduced to 1%, with borrowers who prioritise leverage in mind.

For a limited time, valuation fees have been reduced to £100 for all standard property cases. LendInvest will now also cover the borrower’s legal fee scale costs for standard property, standard conveyance cases.

Ian Boden, Sales Director at LendInvest, said: “One year on from the launch of our BTL product we are proud of the offering that we have worked on continuously throughout the year. As the business continues to enjoy the support of more lending capital, we are confident that the rates we’re now able to offer across our products mean we hold a very competitive position in the market.

“This level of flexibility on rates is complemented by the streamlined application, and loan management process we have implemented internally, ensuring we are well equipped to accommodate a high volume of BTL applications.”

For further detail on these product changes, visit the LendInvest BTL Lending Criteria.

About LendInvest

LendInvest (www.lendinvest.com) is the UK’s leading online platform for property finance and investing. Since launching in 2008, LendInvest has lent over £1.5 billion ($1.9 billion) to help buy, build or renovate over 5,000 homes across the UK.

LendInvest uses technology to provide borrowers with short-term bridging finance, development finance and Buy-To-Let; and investors that include retail investors (in our London Stock Exchange listed bond), investors on our Online Investment Platform and some of the world’s largest financial institutions, with stable income secured against property.

LendInvest is still majority owned by the founders and staff of the business, but has also raised equity from the same investors that founded Skype, and early investors in financial technology businesses like Klarna, Stripe and SoFi.

Media contacts

Louise Hetherington PR Manager
Leigh Rimmer Public Relations Associate