products

Precise, LendInvest, Foundation and Zorin update product ranges



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Precise Mortgages, LendInvest, Foundation Home Loans and Zorin Finance have made changes to their specialist finance ranges.

Precise Mortgages

Precise Mortgages has launched an enhanced bridging range, featuring regulated and non-regulated products with no maximum loan sizes.

The suite offers rates from 0.49% per month at up to 75% LTV, with AVMs now available on loans up to 60% LTV for no fee.

In addition, the new range also allows landlords to make internal reconfigurations, including property conversions to a small HMO up to 6 bedrooms, and garages and lofts to living spaces.

Adrian Moloney, group sales director at OSB Group, said: “Precise Mortgages is seen as bridging market leaders as we’re a trusted lender that has a proven track record in bridging and can manage service and processing effectively. 

“We always ensure that we have the resources in place and we build in over-capacity in order to service applications.”

“Our broker partners know that if we say we’re going to meet a deadline, then we will pull out all the stops to do so. 

“Our dedicated bridging team works closely with our in-house real estate team and is supported by our specialist finance account managers, so altogether we have a really strong set of skills and expertise available.”

Rob Jupp, Group CEO at Brightstar Financial, a member of Precise’s premier panel said: “We’ve worked with Precise Mortgages for a number of years and always found its clear and straightforward approach refreshing and the expertise of its bridging team breeds absolute confidence.” 

“Our clients’ lives, and therefore their needs, are always evolving and Precise Mortgages has led the market in development to ensure its products, criteria and services recognise and reflect that. 

“It is clearly leading the way with this new bridging range and we’re looking forward to working with the team to create even more positive outcomes for our clients.”

LendInvest

LendInvest has launched its new EPiC BTL product range offering reduced rates for environmentally friendly properties.

The new suite offers loans up to £1m at a maximum 75% LTV for all types of BTL properties with and A-C EPC rating.

It includes two- and five-year fixed-rate options, with rates starting at 2.65% for standard properties, 2.91% for small HMOs, and 3.49% for large HMOs, MUFBs and holiday lets.

The EPiC range also offers a seven-year fix for standard properties, available at 2.88% at 70% LTV and 2.94% at 75% LTV.

Andy Virgo, sales director at LendInvest, said: “The launch of this product range is just the next step in the business’ strategy to reward and support borrowers who take their environmental responsibility seriously. 

“As a lender that has offered green initiatives for a number of years now, we hope to broaden this offering in the future, as we continuously seek to work with funding partners that share our ethos.”

Foundation Home Loans

Foundation Home Loans has launched a new limited-edition two-year discounted variable product with no ERC for BTL and limited company BTL borrowers.

Available for both purchasing and remortgaging for portfolio and non-portfolio landlords, the product offers loans up to £1m at a maximum 75% LTV.

It is priced at 2.69% with a 2% product fee, and comes with a free valuation and no application fee.

George Gee, commercial director at Foundation Home Loans, said: “For many landlords, flexibility is key, especially at a time when there is a lot of speculation around rates and where they might be heading over the course of the next few months. 

“This new limited edition discounted variable product without ERCs delivers that flexibility. 

“The product is designed to give intermediaries a strong alternative for their portfolio landlord clients, particularly as it benefits from low up-front costs with no application fee and a free valuation on both purchase or remortgage.”

Zorin Finance

Zorin Finance has launched a new investment loan product aimed at both residential and commercial real estate professionals.

The product offers loans between £2m and £150m at up to 75% LTV on terms up to five years for property acquisitions, refinancing, repositioning, refurbishment and development exit.

Flexible debt structuring will allow for servicing via a combination of interest current and payment-in-kind.

This follows the appointment of Robert Foley as head of investment loans.

“Zorin Finance has established itself as one of the best-known alternative property lenders in the UK and I am excited to have joined such a dynamic company as it expands into the investment loan market,” said Robert. 

“As we emerge from a turbulent 18 months, we hope to bring a fresh approach to investment lending via a product that provides more flexible terms than those offered by high street banks.” 

Luke Townsend, founder and CEO at Zorin Finance, added: “Our expansion into this sector now enables us to provide a full-spectrum lending proposition; our borrowers can use our bridging loans to secure sites or enhance planning before rolling into our development finance facilities and then have the confidence of an exit at practical completion via a Zorin investment loan. 

“We will target new-to-Zorin real estate investors too, both residential and commercial, who are being neglected by the mainstream banks as they retrench from this space in order to shore up their balance sheets post-pandemic.”

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