LendInvest’s two-year fixed rates have been cut by up to 0.15% and its five-year fixed rates will go down by around 0.1%.
The reduced rates are available and will allow brokers in England, Wales and Scotland to “support their clients looking to purchase a new home or remortgage their existing home”.
LendInvest has redesigned its credit categories into “four distinct tiers that each allow varying levels of adverse credit”. This includes Premier, Advantage, Progress and Support.
Those with near-perfect credit would most likely fit into the Premier tier, whereas those with more signficant credit challanges would fall into the Support category.
Paula Mercer (pictured), director of sales at LendInvest, said: “LendInvest has always been committed to people wanting to purchase a new home; that’s why we’re happy to announce these rate changes to our two-year and five-year fixed term residential mortgage products.
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“We also know that everyone’s situation is different, and ‘blips’ on their credit histories shouldn’t keep them from owning their own home. That’s why we’ve taken a look at our credit criteria, and have created four unique tiers, each allowing for lending to those with different levels of adverse credit histories including defaults, arrears and CCJs.
“By reducing our residential rates and our new approach to our credit criteria, LendInvest remains committed to supporting aspiring homebuyers that may not fit the traditional mould of ‘high street’ lending.”
LendInvest recently secured a £250m warehouse facility with Societe Generale.
