LendInvest launches bridge to term transition service
LendInvest has cut rates across its bridging product range and introduced a new bridge to term transition service.
"As the business’ lending capital grows, we are able to be more agile and offer better rates."
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.”
Breaking news
Direct to your inbox:
More
stories
you'll love:
This week's biggest stories:
This week's biggest stories:
Budget
Budget: Government confirms details of 2.5% deposit first-time buyer scheme
FCA
Advice firm employees plead guilty after defrauding clients of £2m
State Pension
Budget: Government confirms state pension tax protection
FCA
FCA restricts six lenders over anti-money laundering concerns
Budget
Budget: Government reduces Lifetime ISA withdrawal charges ahead of new FTB ISA launch
Inflation
Inflation rises to 3.5% as mortgage rates outlook shifts
