LendInvest increases maximum loan size on five-year fixes

LendInvest has increased the maximum loan size on its five-year fixed rate buy-to-let products to £750,000 from £500,000.

The ICR has been calculated at the product pay rate of 3.6 per cent, according to the firm.

In addition, on standard residential loans, the valuation fee has been reduced to £150 from £190, and free title insurance has been extended to HMO refinance cases on properties with up to 15 rooms.

The lender adds that on up to 75 per cent LTV five-year fixes, it will pay a maximum contribution of £850 towards legal fees – this figure increases to £1,000 for repeat borrowers.

LendInvest sales director Ian Boden says: “We listen closely to our customers and the market when it comes to delivering the best offering for our borrowers.

“Access to capital is crucial when a landlord is growing their property portfolio – these product changes provide a significant reduction in the upfront cost our customers face when acquiring finance.”

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