LendInvest is now offering its buy-to-let proposition in Scotland as it seeks to capitalise on increasing demand for long-term property finance north of the border.
The lender’s two-year fixed rates currently start from 2.89%, and five-year fixed rates from 3.19%. ICR assessment rate is 5% across all products, with the exception of the five-year fixed interest product which remains at 3.6%.
Scottish borrowers will also have access to a £750 legal fee cashback offer on five-year fixed to 75% LTV.
The full range of LendInvest’s existing short-term loan products continue to be available to Scottish property professionals.
The move comes months after the announcement that LendInvest has received £200m in funding from the National Australia Bank for the business to expand its capacity to lend in the UK buy-to-let market.
Ian Boden, sales director at LendInvest, said: “Scotland has always been a priority market for us as a lender. For a location with such huge potential, it’s surprising that the Scottish market continues to be undersupplied by active mortgage providers.
“Following the fantastic reception we’ve had for our buy-to-let product so far in England and Wales, we are excited to be delivering the same high quality loans to the Scottish market.”