LendInvest introduces pre-agreed lending limits to shorten underwriting

by:
  • 20/08/2020
  • 0
LendInvest introduces pre-agreed lending limits to shorten underwriting
LendInvest has introduced pre-agreed limit statements to determine how much it would be willing to lend professional landlords so they can undergo a shorter underwriting process when they remortgage or purchase.

 

The appetite statement will be part of a standard mortgage application and when it is requested, an interview will be carried out to find out the borrower’s business plan and financial circumstances. 

The landlord will provide the underwriter with a fully completed portfolio schedule and full business accounts. 

Further down the line when it is time to purchase or remortgage, the borrower should be able to choose a mortgage product with the knowledge that the funds they require have already been approved by Lendinvest. 

Andy Virgo, director for buy-to-let at LendInvest, said: “Our aim has always been to give our borrowers the confidence to secure their next property with a solid financing offer on the table, we believe our new appetite statements will deliver on that aim in a whole new way.  

“With buy-to-let landlords included in the recent stamp duty land tax reduction changes, there has been no better time to provide an investor with a sign of our commitment to them.” 

 

There are 0 Comment(s)

You may also be interested in

Read previous post:
Selina Finance doubles maximum loan term to 10 years

Selina Finance has lengthened its maximum loan term from five to 10 years with the option of a flexible five-year...

Close