Specialist property finance lender LendInvest has launched a buy-to-let online calculator for intermediaries, designed to work with thelender’s buy-to-let application system.
Intermediaries can use the online tool to swiftly calculate LTV, annual rental yield and the maximum gross loan amount in one single place. The calculator caters for both individual and limited company applications.
Ian Boden, sales director at LendInvest, said: “Our priority is making sure the right technology is in place to make our brokers’ lives easier.
“This new calculator is focused on delivering a simple, no-fuss experience for our intermediaries so they can make quick, and more importantly, accurate decisions for their clients.”
LendInvest’s buy-to-let calculator is designed to give the most accurate borrowing range and cover criteria for single properties, HMO’s (houses of multiple occupation) and MUFB’s (multi-unit freehold blocks).
LendInvest buy-to-let loans are available for amounts between £50,000 and £5m, and on terms of up to 30 years. Loans are available for professional individuals and limited companies, a maximum loan-to-value of 80% applies.
Initial market testing of the new online calculator has yielded positive feedback from brokers.
James Hardwick, of Charleston Financial in Milton Keynes, said: “LendInvest’s online calculator is the best in the market.
“It’s really helping brokers to do a quick quotation of affordability, before progressing an application through the excellent online broker portal.”