LendInvest launches its first ever buy-to-let scheme for businesses

LendInvest has launched a buy-to-let (BTL) loan product targeted at professional, experienced property investors and landlords operating in England, Scotland and Wales.

LendInvest BTL loans are available for amounts between £50k and £5m, and on terms of up to 30 years. A maximum loan-to-value of 80 per cent applies. They are available via intermediaries.

They have been priced to be competitive in the current specialist BTL market, and include two, three and five-year fixed rate products. Loans are also available for limited companies.

Ian Boden, sales director at LendInvest, said: “Today we’re bringing to market a BTL product that has been created to counter the complaints and concerns we hear from brokers about the quality and accessibility of BTL loans currently on offer.”

LendInvest has an online platform that brokers can use to apply for the BTL product for clients. It is a paperless system that has been specially designed to alleviate ‘pain points’ in the typical BTL mortgage process that will be very familiar to brokers and their clients.

In addition to benefitting from this system, brokers will continue to receive a personalised service from a named LendInvest case manager assigned to their applications.

Ian Thomas, co-founder and chief investment officer at LendInvest, added: “Following a successful pilot phase, we are very pleased to launch our BTL product.

“This launch is a natural next step, taking us into the longer duration specialist lending space for the first time. Offering BTL loans is a critical strategic step that not only serves to address a continuing funding shortage, but takes us closer to our long-term ambition of becoming a leading whole-of-market mortgage lender.”

LendInvest’s entry into the BTL market comes after the September appointment of Ian Boden from Aldermore where he was head of commercial mortgages. As sales director, Ian is responsible for the growing business development team and the rollout of LendInvest’s BTL loan offering nationwide.