LendInvest will be making several changes to a few of their BTL ranges from Monday 28th September, the bulk of which are for their Standard BTL products. Here is a preview of the changes:
Standard BTL
- Limited Edition 80% LTV Max £500k
- Max advance now £1m @ 75% LTV
- First-time landlords now accepted up to 70% LTV
- Studio flats now accepted within Greater London (no smaller than 30m2)
- New build loans up to 75% LTV, no premium on pricing
- Apps invited for a single dwelling and flats only (flats above commercial will be excluded)
- Minimum £40k income
- Remortgage and purchase
- Cannot add fee above LTV ( 80% gross)
- Clear and clean credit profile – no defaults, missed payments or CCJs
- No Exceptions
- Must meet experience criteria (No first-time landlords)
Small HMO
- Fee reduced to 1.5% up to 6 rooms
- Student Lets accepted up to 75% LTV
MUFB up to 10 Units
- Max LTV up to 75% – £1m advance
Cashback up to £700
- 5 year fixed rates – Standard Properties – £500 cashback towards legal
- Additional £200 cashback for ANY APPLICATION that used Open Banking
View the updated product guides here
View the updated lending criteria here
