It also introduces new fee-free products
LendInvest Mortgages has announced a reduction in rates across its residential mortgage suite to support homebuyers who face challenges securing mortgages from mainstream banks.
The lender has lowered the starting rates to 5.74% and implemented cuts of up to 25 basis points (bps) on its tracker products and 15bps across all fixed rates.
LendInvest also introduced new mortgage products without fees to help homeowners manage the initial costs associated with securing a mortgage.
The latest rate adjustments are part of the lender’s ongoing strategy to evolve its offerings based on feedback from broker partners and the changing needs of their clients.
LendInvest said its residential mortgage range was tailored to accommodate individuals with diverse income sources, the self-employed, key workers, and those with complex credit histories.
Details of the updated residential product range can be accessed on the lender’s website.
“These changes mark our next step in support of brokers and their customers who may be traditionally harder to place with a lender,” said Paula Mercer (pictured), head of sales at LendInvest.
“In the year since we launched residential mortgage products, we’ve seen lots of appetite and learned a lot from our brokers’ feedback so we can keep building a product range that meets the needs of borrowers who are underserved by the mainstream mortgage lenders.”
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