LendInvest reduces resi rates by up to 25bps – Mortgage Finance Gazette
LendInvest Mortgages has cut rates across its residential loans by up to 25bps.
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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