Borrowers can apply for a maximum loan size of £1.5 million and the discounts will also benefit first-time landlords, who are eligible up to 75% loan to value
LendInvest is offering members of Legal & General Mortgage Club exclusive reduced rates across its standard buy-to-let (BTL) products excluding HMOs.
The offer is expected to continue until the end of September 2021 and will mean advisers can offer their clients significant savings when its time to remortgage or finance a new BTL property on a two or five-year fixed rate deal.
With the discount, rates begin at 2.85%, subject to a 5% ICR. The arrangement will mean that LendInvest’s pay rate will start from 3.19% and there is also a £150 valuation fee incentive on property up to £1 million.
Borrowers can apply for a maximum loan size of £1.5 million and the discounts will also benefit first-time landlords, who are eligible up to 75% loan to value (LTV).
Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: Advisers won’t want to miss out on these savings. LendInvest has launched an ambitious package of discounts across its standard range, which will be welcomed news for our advisers; helping them to keep client’s mortgage costs down.
It is also pleasing to see that the offers are available to existing landlords, many of which will be looking to lock into a competitive deal in the wake of the introduction of stamp duty surcharge five years ago. We look forward to hearing more from our adviser community about the launch of the exclusives, he said.
Andy Virgo, buy-to-let director at LendInvest, added: We’re looking forward to bringing to market this range of discounted rates via the Legal & General Mortgage Club, which has long been a key provider in the mortgage market.