Lendinvest adds BTL affordability calculator

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  • 20/02/2018
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Lendinvest adds BTL affordability calculator
The buy-to-let (BTL) calculator can be used to calculate loan to value (LTV), annual rental yield, and the maximum gross loan amount for both individuals and limited companies.

 

The specialist property finance lender has launched the online calculator for intermediaries as a part of an effort to make the loan application process more efficient.

The calculator is designed to give a borrowing range and cover criteria for single properties, houses of multiple occupation (HMOs), and multi-unit freehold blocks (MUFBs).

Lendinvest launched its BTL product range in late November 2017 and currently has a broker panel of over 200 intermediaries, with loans available for amounts between £50,000 and £5m over terms of up to 30 years.

A maximum LTV of 80% applies to the products, which are available for professional landlords and limited companies.

Ian Boden (pictured), sales director at LendInvest, said: “Our priority is making sure the right technology is in place to make our brokers’ lives easier.

“This new calculator is focused on delivering a simple, no-fuss experience for our intermediaries so they can make quick, and more importantly, accurate decisions for their clients.”

Lendinvest also said that initial market testing of the calculator has yielded positive feedback from brokers.

According to James Hardwick of Charleston Financial in Milton Keynes, the calculator is “the best in the market.”

Hardwick continued: “It’s really helping brokers to do a quick quotation of affordability, before progressing an application through the excellent online broker portal.”

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