LendInvest has raised the maximum loan size for MUFB properties to £3 million and reduced the ICR for basic rate taxpayers.
The maximum loan size for MUFB properties have been revised to £1 million for 70% LTV, £1.5 million up to 65% LTV and will now accept up to £3 million up to 60% LTV.
The lender has also reduced its ICR to 125% at 4% for basic rate taxpayers on their five year pay rate product enabling landlords greater leverage for lower yielding properties.
Andy Virgo (pictured), director for buy-to-Let at LendInvest, said: “We are consistently listening to our broker partners and monitoring the market post lockdown to ensure we are responding effectively to what landlords need to keep their business moving forward in a somewhat unique environment.
“The time is right to make these changes, and is the start of further enhancements to our proposition through the rest of the year.”
