LendInvest has unveiled changes to its buy-to-let product range, including raising its LTV and maximum loan limits, and broadening its lending criteria to include first-time landlords and student lets.
The lender is now offering 80% LTV products on standard properties, with a maximum loan size of £500,000.
It has also increased its maximum loan size for standard properties to £1.5 million, with maximum loan size for MUFB cases increasing to £3 million with LTVs up to 75%.
LendInvest will be launching a funding offering for first-time landlords, and student let HMOs up to six bedrooms.
Its buy-to-let customers will also receive a £500 cashback contribution towards legal fees when they take out a 5-year fixed buy-to-let mortgage for standard property types on products up to 75% LTV.
Customers are also eligible for a £200 cashback on all applications where Open Banking is used.
Andy Virgo, director for buy-to-let at LendInvest, said: “Landlords are looking to move fast, and stay flexible when considering new projects at this time – in order to do that, they need the right products available to them. With these new updates, I am confident we are not only able to deliver competitive funding options, but also the right team and expertise behind them to act as a vital partner for our customers as they seek to expand their portfolios.
Lucy Barrett, managing director at Vantage Finance, added: “These product improvements are yet another clear affirmation of LendInvest’s reputation for listening to, and supporting buy-to-let landlords. The addition of larger loans, higher LTVs and support for HMO landlords with reduced fees will be a winning combination for landlords to grow their businesses throughout the ongoing SDLT holiday.”
