LendInvest reduces buy-to-let rates

Its tracker mortgages have been cut by 0.4 per cent, making a standard two-year tracker deal at 75 per cent loan to value (LTV) now at 2.59 per cent plus bank base rate. This has no early repayment charge (ERC). 

The two-year tracker with a two per cent ERC is priced at 1.69 per cent plus bank base rate. 

A two-year fix within its green mortgage range at 75 per cent LTV starts from a rate of 5.54 per cent while the standard offering begins at 5.64 per cent. 

A five-year fixed green mortgage at 55 per cent LTV now has a rate of 6.84 per cent, while the standard equivalent is priced at 6.94 per cent. 

The lender said it was able to make these changes following a £500m funding partnership with Chetwood Financial, which was announced last week. 

Sophie Mitchell-Charman, commercial director at LendInvest, said: “This new range is about us meeting the ambition our brokers and customers tell us they have but the market is not meeting. We hope that this shows confidence in the market that empowers landlords to go and meet the record high rental demand that is out there.   

“Our buy-to-let team has been working hard on this new range to ensure everything is ready from an operational point of view to make every enquiry, application and offer simple, and we look forward to seeing that come to fruition.”