LendInvest has launched a 5-year fixed rate at 3.89% to 75% loan-to-value where the reversion rate is 3.80%+ LIBOR.
The product has an ICR calculation at the pay rate at 125% for limited companies and 140% for individual borrowers.
Ian Boden, sales director at LendInvest, said: “Striving to bring our borrowers the very best products for their projects is central to LendInvest’s operations.
“It is also key, therefore, to make certain we are always thinking long term when we launch a new product to market.
“Keeping our reversion rates low ensures our borrowers aren’t left in a difficult position at the end of their fixed term, an important factor that is easy to overlook when seeking the best rates in the short term.”
LendInvest has also launched new 2 and 5-year fixed rate products with no product fee, providing borrowers with the freedom to choose between paying more upfront with a lower monthly pay rate, or spreading the cost over the initial term.
Supporting these changes, title insurance will now also be available for HMO remortgage cases up to £750,000. This streamlines the loan application process and provides cover for issues that regularly crop up in the due diligence process.