LendInvest has updated its buy-to-let range following the recommencement of valuations.
It has also reintroduced its 5-year fixed rate 75% LTV product, which will be available at a rate of 3.99%, with 70% LTV available at 3.49%, and 65% LTV at 3.29%.
Affordability is calculated at an Interest Cover Ratio (ICR) of 5% against the total gross loan amount, and the lender has adjusted their definition of small HMO’s to six bedrooms.
Additionally LendInvest has a 5-year fixed rate at 3.69% available up to 70% LTV, with an ICR at 4%.
Andy Virgo, director for buy-to-let at LendInvest, said: “It is encouraging to see the housing industry start shifting safely back into gear this week, and the team are primed and ready to hit the ground running with this new refresh to our product range.
“As a lender that has remained open for business over the last couple of months I am confident that we are in a uniquely advantageous position to best serve our customers as valuers return to work, all whilst staying alert to the evolving crisis-environment.”