The product will be available up to 75% LTV, with the ICR calculation at the pay rate of 3.89%, assessed at 125% for limited companies and 140% for all individual borrowers.

The reversion rate for the product is 3.8% plus Libor. 

LendInvest has also launched two- and five-year fixed rate products with no product fees as it looks to give borrowers the freedom to choose between paying more upfront with a lower monthly pay rate or spreading the cost over the initial term.

•   LendInvest secures £30.5m investment
•   LendInvest introduces exclusive five-year fixed rate product
•   Assetz Capital introduces refer-a-friend scheme

Title insurance will also be available for HMO remortgage cases up to £750,000.

"Striving to bring our borrowers the very best products for their projects is central to LendInvest’s operations,” said Ian Boden, sales director at LendInvest (pictured above). 

“It is also key, therefore, to make certain we are always thinking long term when we launch a new product to market. 

“Keeping our reversion rates low ensures our borrowers aren't left in a difficult position at the end of their fixed term, an important factor that is easy to overlook when seeking the best rates in the short term."