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.”
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS