LendInvest has launched a new five-year fixed rate product as part of changes to its buy-to-let product range.
The five year fixed rate buy-to-let product will be available up to 75% LTV, with the ICR calculation at the pay rate of 3.89%, assessed at 125% for Limited Companies and 140% for all individual borrowers, (irrespective of their tax rate). The reversion rate for this product is 3.80% +LIBOR.
LendInvest has also launched new two and five-year fixed rate products with no product fee.
Title insurance will now also be available for HMO remortgage cases up to £750,000. Title insurance streamlines the loan application process and provides cover for issues that regularly crop up in the due diligence process.
Ian Boden (pictured), sales director at LendInvest, said: “Striving to bring our borrowers the very best products for their projects is central to LendInvest’s operations. It is also key, therefore, to make certain we are always thinking long term when we launch a new product to market.
“Keeping our reversion rates low ensures our borrowers aren’t left in a difficult position at the end of their fixed term, an important factor that is easy to overlook when seeking the best rates in the short term.”