LendInvest reduces resi rates by up to 25bps – Mortgage Finance Gazette
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LendInvest Mortgages has cut rates across its residential loans by up to 25bps.
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The largest rate cuts are on its tracker products, which have been reduced by up to 25bps, with its fixed-rate products reduced by up to 15bps.
The bank has also introduced new no-fee products, designed to help buyers with the upfront costs of their mortgage.
As a result of these changes, its tracker range now starts at a rate of 5.75%. This is available on its five-year deal up to 75% LTV, and comes with a £995 fee.
LendInvest’s residential range includes specialist products for borrowers with multiple sources of income, the self-employed, key workers and those with more complex credit histories.
LendInvest head of sales Paula Mercer says these changes came as a result of feedback from its broker partners.
She adds: “In the year since we launched residential mortgage products, we’ve seen a lot of appetite and have learned from our broker feedback so we can keep building a product range that meets the needs of borrowers who are underserved by the mainstream mortgage lenders.”
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