Lendinvest made lots of changes this week, please see below a summary and links to rates/calcs!BTL updates this week:
- Up to 80% LTV five-year products for standard properties and small HMOs
- Increased max LTV for New Build Flats in line with New Build Homes
- 2-year and 5-year fixed rates for Holiday Lets are now available
- Increased max loan sizes up to £3 million
Don’t forget we also offer
- 56 sic codes (list attached)
- Inter company loans – companies do not need to mirror
- Commercial valuer (method) instructed on HMOs with more than 1 kitchen, all ensuits, article 4 or over 6 beds.
- HMOs with no communal space, kitchenettes in each room and all ensuite bathrooms
https://www.lendinvest.com/
Bridging updates this week
- Its back – can consider below market transactions lending against the market value even if purchase price is lower (capped at 90% of PP)
- Lower interest rates
- No maximum age if exit is sale of property
Don’t forget we also offer
- Bridge to let – covering legal and val fees on the exit
- Refurb to let – borrowing 85% Gross (capped at 75% of GDV)
- Dips – 10 questions
Residential changes this week:
- Up to 100% of additional income can be considered when its right for the customer in affordability calculations
- Up to 100% of the income from a second job in an unrelated field can be included in the affordability calculation
- CIS contractors can now be treated as contractors rather than self-employed, with income verified using payslips
- Income from Zero Hours contracts can be accepted as guaranteed income if they have a 2-year history of receiving it
- Underwriters have more freedom to improve applicant credit tiers
- There is great flexibility around applicant’s address history, with them now able to be accepted without 3 years of address history in the UK as long as they have had open credit in the UK for three years
- We can accept up to 50% of non-court ordered maintenance in affordability calculations, based on a track record of receiving it
- Title insurance can now be used on Scottish remortgage cases.
Don’t forget we also offer
- Concessionary purchases allowing parents to remain in the property
- one years self employment
- 90% LTV for debt consolidation or capital raising for business or property usage
- income enhancements up to 6.49% for different occupations
- Adverse proposition including Resi 4 (max 2 defaults 3-24 months, 2 CCJs 6-24 months, status 3 on mortgage 6-24, DMP & unsecured areas on our discretion reviewed at DIP refer)
https://www.lendinvest.com/