The bridge-to-let loans are available for £75,000 to £750,000 up to 12 months, with a maximum loan to value of 75 per cent and a monthly rate of 0.6 per cent.
The product is intended for light refurbishment of residential properties including homes in multiple occupancy up to a maximum of six bedrooms.
“With the second anniversary of our buy-to-let product launch in sight, we are exploring how to add value for our borrowers when building their portfolios. The bridge to let product provides the flexible finance that landlords want during those important early stages of a buy to let investment,” said Matthew Tooth, chief commercial officer at LendInvest (pictured).
LendInvest has made a string of changes to its buy-to-let range, offering loans up to £750,000 on five-year rates and contribution to legal fees.