LendInvest has launched new residential mortgages and lifted loan-to-value ratios on some landlord loans, while Atom bank has cut rates across fixed and variable commercial offers.
Fintech platform LendInvest debuts a range of limited edition residential remortgage products, which allows borrowers to benefit from no product fees on Tier 3 and 4 loans, and reduced rates on Tier 0 to 2 no-product-fee options.
It also introduces five-year fixes at 65% and 75% LTV, with a £1995 product fee, and interest-only options up to 70% LTV and 75% LTV for part-and-part mortgages.
The lender will lift the maximum LTV to 75% on small multi-unit freehold blocks on its buy-to-let range.
LendInvest commercial director Sophie Kettle, says: “LendInvest recognises that not all homebuyers fit the traditional mould for High Street lending, and that’s why we’re delighted to make available this limited edition of Remortgage products.
“We understand that every borrower’s situation is unique and personal, and that’s why we believe that these product enhancements reflect our ongoing commitment to providing options that meet the evolving needs of brokers’ clients.”
Meanwhile, Atom bank has cut fixed rates by up to 47 basis points for commercial mortgages, while variable rates have fallen by up to 41bps.
As a result of its reductions, variable rates now start at 1.65% over base rate, and fixed rates start at 6.23%.
Examples of 65% LTV loans are priced at 3.09% for a variable rate over base rate and 7.63% for a fixed rate.
And 45% LTV loans come in at 2.41% for a variable rate over base rate and 7.01% for a fixed rate.
Atom bank head of intermediary distribution David Castling adds: “There will be businesses up and down the country looking to kick on with their growth ambitions for the year ahead, and this rate reduction will make external funding more accessible for them.”
