The changes aim to support customers who struggle to borrow on the high street
LendInvest Mortgages has made significant enhancements to its residential mortgage suite, aimed at supporting homebuyers who face challenges securing loans from traditional high street lenders.
In a move to reflect the diverse income sources of modern workers, LendInvest will now account for up to 100% of additional earnings, such as those from a second job in an unrelated field, when calculating loan affordability.
The lender has also updated its criteria to recognise income from zero-hour contracts as guaranteed, provided the applicant has a two-year history of consistent earnings from such arrangements, offering greater flexibility for individuals with variable work schedules.
Further changes include new provisions for CIS contractors, who will now be considered as contractors rather than self-employed individuals. Additionally, title insurance will be available for Scottish remortgage cases, and underwriters will have increased discretion to adjust applicant credit tiers.
LendInvest’s residential mortgage range caters specifically to those with multiple income sources, the self-employed, key workers, or those with complex credit histories, offering tailored support and specialist products. It recently reduced rates across its residential mortgage suite.
“With today’s enhancements to our residential mortgage suite, we are actively transforming our offerings to cater to those often overlooked by traditional lenders,” said Paula Mercer (pictured), head of sales at LendInvest.
“Our expanded criteria for income consideration are designed to facilitate access to mortgages for a broader range of customers, particularly those who find their complex financial situations a barrier with high street lenders. LendInvest is committed to being the reliable alternative, providing flexible and inclusive mortgage solutions tailored to the diverse needs of modern homeowners.”
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