Reductions have been made to its new business, product transfer and bridge-to-let financing, which allows borrowers to apply for a BTL and bridging loan concurrently and transition from one to the other.
Paula Mercer, sales director at LendInvest, said: “We’re pleased to be able to reduce our rates to our brokers and clients by 10bps, which will no doubt offer some relief in today’s UK property market.
“At LendInvest, we recognise that affordability is a key factor for landlords looking to expand their portfolios or enter the market. We’ve always been committed to making the mortgage process simple. We’re confident that this rate cut, combined with our Mortgages Portal and experienced teams of underwriters and case managers, will enable portfolio landlords to achieve their goals, no matter the complexity of the deal.”
Landbay cuts Premier rates
Landbay has also lowered BTL mortgage rates, with reductions applied to its Premier range.
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This includes a cut of up to 40 basis points (bps) to 10 two-year fixed deals at 75% loan to value (LTV).
Rates now begin at 3.39% with a 5% fee and go to 5.89% with no fee.
Pricing has been reduced across more than 50 products, with reductions ranging from 15bps to 40bps.
For example, four two-year fixed small house in multiple occupation (HMO) rates at 75% LTV have been reduced by 30bps, with rates ranging from 4.59% with a 3% fee to 5.59% with no fee.
Further, 23 of the Premier range’s five-year fixed remortgages with a free valuation have been reduced by up to 20bps, including one deal with a 5% fee now priced at 4.62% and a fee-free option with a rate of 5.64%.
Some 21 of its five-year fixes at 75% LTV have also seen rate cuts across standard purchase, remortgage, product transfer and small HMOs. This includes an option with a 5% fee and a rate of 4.59%, and a no-free deal priced at 5.62%.
Rob Stanton, sales and distribution director at Landbay, said: “These latest changes represent a significant enhancement to our Premier range and provide brokers with even more competitively priced options across a broad range of landlord requirements.
“While the headline reduction is the 40 basis point cut to our 75% LTV two-year fixed-rate products, we have also made meaningful reductions across our small HMO, remortgage and five-year fixed rate ranges. This ensures advisers can access strong pricing, whether they are supporting purchase, remortgage, product transfer or specialist property cases.”
He added: “Our focus remains on providing brokers with choice, flexibility and value. By making reductions across more than 50 products, we are seeking to support advisers and their landlord clients with a comprehensive range that remains competitive across multiple sectors of the BTL market.”
