Paradigm adds LendInvest to panel

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  • 29/10/2019
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Paradigm adds LendInvest to panel
Paradigm Mortgage Services has added LendInvest to its lender panel.

 

Its member firms will be able to register with LendInvest and access its range of buy-to-let (BTL) products available for properties located in England and Wales. 

LendInvest offers products on standard property types, as well as houses in multiple occupation (HMOs) up to six rooms, HMOs between seven and 15 rooms, and multi-unit freehold blocks. 

Its BTL mortgage range has rates starting from 2.89 per cent, with loan to values (LTVs) offered up to 80 per cent.  

It also offers five-year rates from 3.19 per cent with competitive ICR and stress rates. LendInvest’s standard ICR assessment is five per cent, and on five-year fixed products it is 3.6 per cent.  

LendInvest is currently offering £750 cashback to borrowers on legal fees for a number of BTL products.  

Paradigm advisers will be able to use the lender’s online broker portal which has features which include electronic signatures for applications, direct debit mandates and offers.  

It uses Onfido for digital identification checks and takes proof of address from Equifax and Open Banking with an aim to speed up the underwriting process.  

Alongside this, Paradigm member firms will have direct access to their underwriter throughout the client’s application. 

John Coffield (pictured), head of Paradigm Mortgage Services, said: “We’re very pleased to be announcing the addition of LendInvest to our panel. 

“Paradigm members I’m sure will want to explore its product range and wider proposition, and we’re looking forward to working together to develop our relationship in the months and years ahead.”  

Ian Boden, sales director at LendInvest, said: “Partnering with a large, industry leading mortgage club such as Paradigm is another huge step forward in our plans for ramping up distribution of our buy-to-let product.” 

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