LendInvest updates buy-to-let proposition

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  • 20/09/2018
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LendInvest updates buy-to-let proposition
LendInvest has launched a five-year fixed product alongside several other changes to its buy-to-let offering.

 

The five-year fixed rate deal will be available up to 75% loan-to-value (LTV), with the interest cover ratio (ICR) calculation at the pay rate of 3.89%, assessed at 125% for Limited Companies and 140% for all individual borrowers.

The reversion rate for this product is 3.80% +LIBOR.

LendInvest has also launched two- and five-year fixed rate products with no product fee.

The lender is making Title Insurance available for houses in multiple occupation (HMO) remortgage cases up to £750,000.

Title Insurance streamlines the loan application process and provides cover for issues that regularly crop up in the due diligence process.

LendInvest sales director Ian Boden (pictured) said it was important for the lender to make certain it was always thinking long-term when it launched a new product to market.

“Keeping our reversion rates low ensures our borrowers are not left in a difficult position at the end of their fixed term, an important factor that is easy to overlook when seeking the best rates in the short term,” he said.

 

 

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