LendInvest launches bridge to term offering
LendInvest has cut rates across its bridging product range and introduced a new bridge to term transition service.
"Cutting our bridging rates in this way, supported by the depth of expertise within our BDM and underwriting teams, puts us in a highly competitive position "
The service offers borrowers looking to purchase residential property at auction, undertake refurbishment or carry out minor development the opportunity to then switch to one of LendInvest’s buy-to-let mortgages.
Rates have been reduced across the lender's bridging finance products, with monthly interest rates now starting from 0.55% for residential bridging, auction and development exit and 0.79% for commercial bridging.
Matthew Tooth, chief commercial officer at LendInvest, said: "As the business’ lending capital grows, we are able to be more agile and offer better rates. Cutting our bridging rates in this way, supported by the depth of expertise within our BDM and underwriting teams, puts us in a highly competitive position when it comes to providing quotes for finance to intermediaries looking for the best deal for the borrower.”
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