All of the lender’s two-year fixed rates and its five- and seven-year fixed rates for large house in multiple occupation (HMO) and multi-unit freehold block (MUFB) deals will be cut by 0.2%.
Additionally, the company is reducing all five-year fixed and seven-year fixed rates for standard property, small HMOs/MUFBs, holiday lets and expats by 0.1%.
The reductions also apply to product transfers. The lowest rates now start at 3.24% for a two-year fixed term.
Hugo Davies, chief capital officer and managing director for mortgages at LendInvest, said: “Our commitment to helping brokers find solutions for their landlord clients continues. In today’s market, affordability remains key for customers and we continue to provide options for those customers, allowing them to complete their projects. That’s why we’re delighted to be able to cut all of our buy-to-let mortgage products by up to 20bps.
“At LendInvest, our goal has always been to make the mortgage process as simple as possible, and that’s why our Mortgages Portal is optimised for brokers. One portal where brokers can see real-time updates on all of their cases, apply for and complete product transfers in hours and get in touch with our dedicated team of case managers and underwriters when extra support is needed.”
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West Brom cuts five-year fixed rates and adds interest-only deals
West Brom Building Society has lowered five-year fixed rates and reintroduced selected interest-only options.
The firm said five-year fixed rates at 90% loan to value (LTV) with a £999 fee will fall by 0.29% to 4.4% and its no-fee option is priced at 4.51%.
The mutual has also cut its five-year fixed rate at 80% LTV with a £999 fee to 4.3%, a cut of 0.27%.
West Brom Building Society said it was adding two interest-only five-year fixed rates with no minimum income requirements and where a credible repayment vehicle is in place.
The range includes a purchase deal and a remortgage option at 60% LTV, priced at 4.3% and 4.4% respectively.
Aran Mann, product manager at West Brom Building Society, said: “In a market where borrowers are increasingly focused on affordability and long-term security, it’s vital that we offer a wide range of competitive and flexible options. Our latest five-year fixed rate reductions are designed to help customers secure better value, particularly those who are looking to buy with a 10% or 20% deposit.
“We’re also introducing new interest-only products in direct response to broker and customer feedback. In the current high-rate and cost-of-living environment, we’re seeing more customers with a solid plan for repaying their loan, whether through investments, savings, or other means, and for them, interest-only borrowing offers a way to reduce monthly payments during the term.
“Listening to brokers and understanding the real-life challenges faced by our customers remains central to how we shape our mortgage offering. As a mutual, it’s crucial that we continue to respond in a way that supports people through changing market conditions and helps more people to secure and sustain homeownership.”
