Bridging
Lendco refreshes rates and changes application process
Lendco has brought out refreshed five-year fixed rates, product transfer, bridge exit and tracker ranges and removed its two-year fixed rates.
According to a broker note, buy-to-let, five-year fixed rates start at 6.19 per cent at 75 per cent loan to value.
Five-year fixed rate product transfers begin from 6.4 per cent and tracker product transfers start from the three-month Sonia rate plus 1.9 per cent.
Fixed bridge exits are priced from 6.5 per cent and tracker bridge exits are three-month Sonia rate plus 1.85 per cent.
The lender will also offer a full procuration fee with its product transfer range.
Lendco has also changed its application process to remove the necessity for each applicant to digitally sign its application form.
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The lender said that this meant the “nominated adviser” can have borrowers’ consent to process their information on their behalf and it had made changes to recognise this consent.
“A welcome step forward, please help us to help you by ensuring that the data you process is accurate and as comprehensive as possible,” it added.