LendInvest Mortgages has introduced a 0.15% rate reduction on all 2-year fixed term residential mortgages.
The lender’s 5-year fixed term residential products will also be reduced by 0.10%.
These new rates are effective immediately, and aim to help brokers and intermediaries across England, Wales and Scotland in supporting their clients.
This announcement follows LendInvest’s recent redesign of its credit criteria.
There are now four distinct categories, each designed to cater to varying levels of allowable adverse credit.
Paula Mercer (pictured), director of sales at LendInvest, said: “LendInvest has always been committed to people wanting to purchase a new home, that’s why we’re happy to announce these rate changes to our 2-year and 5-year fixed term residential mortgage products.
“We also know that everyone’s situation is different, and ‘blips’ on their credit histories shouldn’t keep them from owning their own home.
“That’s why we’ve taken a look at our credit criteria, and have created four unique tiers, each allowing for lending to those with different levels of adverse credit histories including defaults, arrears and County Court Judgements (CCJs).”
She added: “By reducing our residential rates and our new approach to our credit criteria, LendInvest remains committed to supporting aspiring homebuyers that may not fit the traditional mould of high street lending.”
