LendInvest Mortgages has reduced rates on its 5-year and 7-year buy-to-let (BTL) mortgages by up to 0.10%, effective immediately.
The initial rates on 5-year fixed products at 75% loan-to-value (LTV) start from 4.79% for standard properties, 4.89% for small houses in multiple occupation (HMOs), up to six bedrooms and 4.94% for small multi-unit freehold blocks (MUFBs) up to six units.
The reduction applies to LendInvest’s range of 5-year fixed rate products including expat BTL, Bridge-to-Let, HMOs up to 15 bedrooms, MUFBs up to 10 units and Holiday Lets.
For clients looking for a more secured payment over time, the rate reduction will cover 7-year fixed rate mortgages along with added incentives, like cashback up to £350.
This rate reduction followed recent enhancements to the criteria for LendInvest’s Expat BTL range.
Based on broker feedback, the Expat BTL range now lends to retired customers, and self-employed Expats are now considered for funding provided that their income is earned in the UK.
Previously, Expat customers would require £50,000 employment income to qualify for a BTL product, but now the income is per application rather than the applicant.
Sophie Mitchell-Charman, Commercial Director at LendInvest, said: “At LendInvest, we have always been committed to providing simple mortgage and property solutions.
“With this rate reduction of 10bps on our 5- and 7-year fixed BTLs, brokers can empower and unlock their clients’ potential, whether they are portfolio landlords, limited companies, or first-time landlords.
“We always take on feedback from our brokers and their clients, and that’s why we’re excited to expand on our Expat BTL range which enables British citizens living overseas to continue to grow their property portfolios, even into retirement.”
