LendInvest launches new house flip loans
LendInvest has launched two new refurbishment loan products to help bring more properties onto the market.
The property lender has rolled out a landlord refurbishment bridging loan with a maximum loan to value (LTV) of 85 per cent; as well as an 85 per cent LTV house flip refurbishment bridging loan.
The landlord refurbishment loan has been designed to help landlords acquire properties and make the necessary improvements required to convert them into a rental properties. Landlords can also use the product to make updates to an existing property in a bid to increase rental yields.
The house flip loan has been designed to help property investors to deliver more high quality housing stock.
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“In a country crying out for high-quality homes, we’ve been thinking about the steps necessary to support house flippers and property investors to provide them,” said Victoria Barnard, business development manager at LendInvest.
“As a bridging team; we’re all about flexibility, certainty and a quick yes where it suits us and your borrower.
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“This is why we’ve launched two new high LTV refurbishment products, pitched specifically at the type of customers we think we can help get moving on their next project.”
The products offer automatically rolled interest, and no monitoring on works. The minimum loan value is £100,000, and the loan can be used on for all forms of housing, anywhere in the UK.
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