Lender also raises its LTI ratios
LendInvest Mortgages has announced updates to its residential mortgage deals, including the launch of a 90% loan-to-value (LTV) two-year fixed rate product, aimed at assisting first-time buyers.
The lender has also stretched loan to income (LTI) ratios up to 6.49 times, further supporting potential buyers’ need to borrow more for their first home.
In addition to these enhancements, LendInvest now allows borrowers the choice of including the product fee in the overall loan amount.
LendInvest said the adjustments are particularly beneficial in the current economic climate, characterised by rising mortgage arrears and inflationary pressures affecting household budgets.
LendInvest Mortgages is a new business division that houses non-bank mortgage lender LendInvest’s residential, bridging, and buy-to-let mortgage products. Its residential range offers specialised options for key workers, qualified professionals, and individuals with previous credit issues.
“Recognising the diverse needs of homebuyers, especially in a challenging economic environment, we’ve tailored our products to enhance affordability from the outset,” said Paula Mercer (pictured), head of sales at LendInvest Mortgages.
“Today’s product launch benefits all of our homeowner customers, but especially first-time buyers with smaller deposits. We continue to evaluate and develop our comprehensive range with the goal of providing meaningful solutions for all homeowners.”
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
