Andy virgo

LendInvest raises LTVs to 80% and broadens lending criteria




LendInvest has updated its BTL product range by raising its LTV and maximum loan limits, and broadening its lending criteria to include first-time landlords and student lets.

It is now offering 80% LTV products on standard properties, with a maximum loan size of £500,000.

The lender has also increased its maximum loan size for standard properties to £1.5m.

The top loan size for MUFB cases was also raised to £3m with LTVs up to 75%.

In addition, LendInvest has launched a funding offer for first-time landlords and student-let HMOs of up to six bedrooms.

Customers will also receive a £500 cashback contribution towards legal fees when they take out a five-year fixed BTL mortgage for standard property types on products up to 75% LTV. 

They are also eligible for a £200 cashback on all applications where Open Banking is used.

Andy Virgo, director for BTL at LendInvest (pictured above), said: “Landlords are looking to move fast, and stay flexible when considering new projects at this time — in order to do that, they need the right products available to them. 

“With these new updates, I am confident we are not only able to deliver competitive funding options, but also the right team and expertise behind them to act as a vital partner for our customers as they seek to expand their portfolios. 

Lucy Barrett, managing director at Vantage Finance, added: “These product improvements are yet another clear affirmation of LendInvest's reputation for listening to, and supporting BTL landlords. 

“The addition of larger loans, higher LTVs and support for HMO landlords with reduced fees will be a winning combination for landlords to grow their businesses throughout the ongoing SDLT holiday."

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