TMA has announced the addition of property finance platform, LendInvest, to its lending panel.
TMA members will have immediate access to LendInvest’s range of buy-to-let solutions for a selection of properties including new builds, Houses in Multiple Occupation (HMO), multi-unit freehold blocks, high-rise flats up to 10 storeys and ex-local authority flats.
Customers of TMA members will also benefit from flexible underwriting for portfolio landlords and no limits on portfolio sizes.
In addition, the Club’s advisers will have access to LendInvest’s support services, providing unlimited access to underwriters, the lender’s Open Banking technology and its broker portal.
Interest coverage ratio (ICR) is assessed at 5% (or at the pay rate for a five-year fixed rate product) utilising the Market Rental valuation. LendInvest also provides free title insurance to standard property and small House in Multiple Occupation.
LendInvest also provides HMO remortgage cases (subject to qualification) and loans are available for up to 20 properties with an aggregate borrowing of £5 million.
Lisa Martin, development director at TMA, said: “Welcoming LendInvest to our expanding buy-to-let panel reiterates TMA’s ongoing commitment to championing landlords and the service they provide to the property market. As such, we are thrilled to bring LendInvest on board to ensure that more of our intermediary firms can support their landlord clients with the best lending solutions.
“With the choice and flexibility that comes with LendInvest’s range of products, more of our advisers will be able to reap the benefits that the buy-to-let market brings for them and ultimately, bolster their business.”
Matthew Tooth, chief commercial officer at LendInvest, added: “We are delighted to partner with TMA to support the Club’s growing community of intermediaries with their work in the buy-to-let space. TMA’s commitment to providing more advisers with a range of buy-to-let solutions and support services matches our own, making the decision to join forces with the Club a natural next step for us.
“Today’s partnership reaffirms our goal of broadening our distribution to brokers in the buy-to-let space, and we look forward to working with TMA to further solidify our growth plans.”