One raises maximum loan-to-value, the other increases loan-to-income caps
LendInvest Mortgages and April Mortgages have announced significant updates to their product offerings, aiming to provide more flexibility and support for borrowers.
LendInvest has increased the loan-to-value (LTV) ratio for its regulated bridging product to 70%, offering greater flexibility for customers, facilitating various financial needs such as managing property chains, quick property purchases, funding renovations, and raising capital for new investments.
The product features automated valuation models (AVM), dual representation, and no-signature-required applications, all processed quickly on their portal.
“LendInvest is committed to continually improving its product offerings to meet the evolving needs of its customers,” said Leanne Ardron (pictured left), director of bridging at LendInvest. “Increasing the regulated bridging product to 70% gross LTV is a testament to LendInvest’s dedication to providing flexible and efficient financial solutions.”
Meanwhile, April Mortgages has raised its loan-to-income (LTI) caps, allowing the lender to offer loans up to six times the sole and joint income for first-time buyers, home movers, and like-for-like remortgages.
April Mortgages’ expanded distribution partnerships with Coreco and SPF Private Clients are set to further extend its reach, ensuring more borrowers benefit from the company’s range of longer-term fixed rates, available up to 95% LTV.
“Higher loan-to-income caps will mean April Mortgages can deliver peace of mind to far more borrowers across the UK, particularly those looking for help to secure their first, second, or dream home,” said James Pagan (pictured right), director of product and portfolio management at April Mortgages. “Securing your rate for a period of five to 15 years makes it easier to budget and removes the stress of having to deal with rate fluctuations every couple of years.”
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