The lender launched the BTL product – which is only available via intermediaries – in late November.
LendInvest believes that assembling a panel of this size in just 10 weeks demonstrates the appetite brokers have to get behind the product.
“It has been very gratifying to sign up so many broker and other intermediary partners in the few weeks since we launched our first BTL loans,” said Ian Boden, sales director at LendInvest (pictured above).
“We are hugely appreciative of their support at such an early stage.
“It has really allowed us to hit the ground running with the new product, confident that there is strong market demand for the sorts of loans we are offering.”
LendInvest’s BTL loans are available for amounts between £50,000 and £5m on terms of up to 30 years.
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A maximum LTV of 80% applies.
Designed for professional individuals and limited companies, LendInvest has processed several hundred signed BTL applications and completed a number of its first cases.
James Hardwick of Charleston Financial said LendInvest had the best online calculator in the market.
“It’s really helping brokers to do a quick quotation of affordability, before progressing an application through the excellent online broker portal.”
Meanwhile, Doug Hall of 3mc welcomed the new entrant to the market.
“It is both welcome and refreshing that a new entrant can come to market demonstrating a commerciality of underwriting approach.”
LendInvest added that the product was proving popular at a national level, with demand particularly high in regions such as the West Midlands, northern England and the South West.
Ian concluded: “As the panel beds down and traction grows, we expect demand for LendInvest BTL loans to increase significantly through the year.”