LendInvest unveils new BTL range with “bold reductions”
LendInvest has unveiled a new buy-to-let (BTL) range with lower rates, as it outlines the opportunities in the market.
The specialist property lender is offering landlords rates starting from 5.54 per cent, funded through its new £500m partnership with Chetwood Financial which was announced last week.
“This new range promises bold reductions across BTL, with a 40bps drop on its tracker products to complement its new, wider and reduced fixed-rate products,” LendInvest said.
Landlords can secure loans of up to 75 per cent loan-to-value.
“This new range is about us meeting the ambition our brokers and customers tell us they have but the market is not meeting,” said Sophie Mitchell-Charman, commercial director at LendInvest.
“We hope that this shows confidence in the market that empowers landlords to go and meet the record high rental demand that is out there.
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“Our BTL team has been working hard on this new range to ensure everything is ready from an operational point of view to make every enquiry, application and offer simple, and we look forward to seeing that come to fruition.”
In a separate blog post, Mitchell-Charman noted the “choppy” conditions for the BTL market, amid rising interest rates.
However, she said that “investing in the property market is a long-term investment – which the Renters Reform Bill looks set to make an even bigger priority.”
Read more: LendInvest reports £2.58bn assets under management
“For asset or capital-supported BTL landlords, re-entering the market to grow their portfolios should be more simple than the homeowner market, especially with lower rates ready to support them,” she added.
“Leveraging across their portfolio to invest in new properties is simple, the change might need to be the level of capital they raise to ensure lower LTVs on newer properties if they want to keep rates even lower.
“Obviously this comes with risks as all property investing does, but the work landlords did over the past decade should place them well to diversify that risk across their properties.”
LendInvest has an existing relationship with Chetwood Financial, having previously sold a BTL mortgage portfolio to the digital bank for £243m.
