LendInvest Mortgages has made a reduction in rates on its 85% loan-to-value (LTV) Refurbishment Bridging product.
The rate has been cut to 0.98%, which brings the net loan to 74% LTV.
This change aims to provide landlords and property investors with more affordable financing for refurbishment projects, including conversions for houses in multiple occupation (HMOs).
In addition to reducing rates, LendInvest has simplified the application process.
The firm has also focused on lending based on open market value (OMV), enabling investors to exit based on the enhanced value after refurbishment.
Leanne Ardron, director of bridging finance at LendInvest, said: “At LendInvest, we’re committed to offering competitive rates and innovative products that help property investors take advantage of opportunities.
“With this rate reduction, our clients can unlock the true potential of their assets and secure an exit strategy based on the end value of the property, whether they’re completing a quick upgrade or embarking on a larger development.”
