LendInvest has announced the formation of a national broker panel, comprising more than 200 brokers, packagers and other deal introducers, following the launch of its buy-to-let product in late November 2017.
The lender’s buy-to-let loans are available for amounts between £50,000 and £5 million, and on terms of up to 30 years. A maximum loan-to-value of 80% applies. They include two, three and five-year fixed rate products. Loans are available for professional individuals and limited companies. The buy-to-let product has been developed with portfolio landlords in mind and caters for the full spectrum of the residential property investment market.
In the weeks since the product’s launch, LendInvest has processed several hundred signed buy-to-let applications and completed a number of its first cases.
JDoug Hall of 3mc in Greater Manchester said: “It is both welcome and refreshing that a new entrant can come to market demonstrating a commerciality of underwriting approach.”
Ian Boden, sales director at LendInvest, added: “It has been very gratifying to sign up so many broker and other intermediary partners in the few weeks since we launched our first buy-to-let loans. We are hugely appreciative of their support at such an early stage. It has really allowed us to hit the ground running with the new product, confident that there is strong market demand for the sorts of loans we are offering. As the panel beds down and traction grows, we expect demand for LendInvest buy-to-let loans to increase significantly through the year.”