Its two-year fixed rates across all property types now start at 4.29%.
The five-year fix is split across single assets and houses in multiple occupation (HMOs) and multi-unit blocks (MUBs). Single asset rates start at 5.35% for up to £1m loans. HMO and MUB borrowing with loan sizes up to £1m also start at 5.35%. Loan sizes between £1-2m start at 5.45%.
Alex King, executive director at Lendco, said: “We’re committed to continually reviewing our product range to ensure we’re delivering competitive solutions for brokers and their landlord clients. These latest reductions of up to 20bps across our two- and five-year fixed-rate products provide greater value at a time when borrowers continue to look for certainty and competitive pricing.
“We’re pleased to be able to pass these savings on while continuing to offer the flexible underwriting, specialist expertise and service that our intermediary partners expect from Lendco.”
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LendInvest cuts BTL rates by 10bps
LendInvest announced a 10bps rate cut across its two- and five-year fixed rate BTL products.
The lender’s lowest rates now start at 3.74%.
Rod McPherson, head of distribution at LendInvest, said: “We’re really pleased to give our brokers and their clients some extra financial headroom with this 10bps rate cut. As the UK property market finds its stride and continues to stabilise, we intend to keep looking for these opportunities to cut our rates even further.
“At Lendinvest, we’ve always supported brokers and their property investor clients, and for us, that means expanding horizons. Our new semi-commercial line of BTL products and our approach to funding proves that financing complex properties doesn’t have to mean dealing with complex hurdles. We’ve built a solution that makes it easier than ever for professional landlords to diversify their portfolios.”
