LendInvest has launched a product for property investors it defined as a ‘3-year bridge’. LendInvest has launched a three-year bridge product for property investors that is intended to be a hybrid between bridging and buy to let. It costs up to 70% for up to 70% loan to value and has a pay rate of up to 70% , with 1% of the interest deferred. The loan is designed for experienced borrowers, offering an income coverage ratio of 110% rather than complying with the Prudential Regulation Authority's buy-to-let stress tests. There is an early repayment charge of 3% in the first year , 2% in the second and 1% in the second , with no charge in the first year of the loan.
LendInvest has launched a three-year bridge product for property investors that is intended to be a hybrid between bridging and buy to let. It costs up to 70% for up to 70% loan to value and has a pay rate of up to 70% , with 1% of the interest deferred. The loan is designed for experienced borrowers, offering an income coverage ratio of 110% rather than complying with the Prudential Regulation Authority's buy-to-let stress tests. There is an early repayment charge of 3% in the first year , 2% in the second and 1% in the second , with no charge in the first year of the loan.