Buy-to-let  

Lendinvest creates 200-strong broker panel

Specialist lender LendInvest has founded a broker panel, with more than 200 brokers, packagers and other deal introducers.

The new panel follows the launch of the lender's buy-to-let loan in late November last year.

The LendInvest mortgages are available for amounts between £50,000 and £5m and includes two, three and five-year rates.

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They are available for both professional lenders and limited companies and are designed for portfolio landlords.

Ian Boden, sales director at LendInvest, said: "It has been very gratifying to sign up so many broker and other intermediary partners in the few weeks since we launched our first buy-to-let loans.

"We are hugely appreciative of their support at such an early stage. It has really allowed us to hit the ground running with the new product, confident that there is strong market demand for the sorts of loans we are offering.

"As the panel beds down and traction grows, we expect demand for LendInvest buy-to-let loans to increase significantly through the year."

Until its move into buy-to-let lending, LendInvest had been a bridging loan specialist.

However, tighter regulations on landlord portfolios that came in earlier this year reduced the number of other lenders willing to give mortgages to those with several properties. 

The new rules require lenders to assess the viability of every property in a landlord's portfolio before offering them a further loan, rather than just assessing the portfolio as a whole.

Affordability is also more tightly tested.

Mr Boden said LendInvest's range has been created to counter the complaints and concerns we hear from brokers about the quality and accessibility of buy-to-let loans currently on offer.

.Mr Boden said demand for the new mortgages was particularly high in the West Midlands, Northern England and the south eest.

Doug Hall, director of 3MC in Greater Manchester, said: "It is both welcome and refreshing that a new entrant can come to market demonstrating a commerciality of underwriting approach."