LendInvest expands Buy-to-Let offering into Scotland
LendInvest has expanded its Buy-to-Let offering into Scotland as demand for long-term property finance in the Scottish housing market increases.
The move comes months after the announcement that LendInvest has received GBP200 million in funding from the National Australia Bank for the business to expand its capacity to lend in the UK BTL market.
LendInvest’s two-year fixed rates currently start from 2.89 per cent, and five-year fixed rates from 3.19 per cent. ICR assessment rate is 5 per cent across all products, with the exception of the five-year fixed interest product which remains at 3.6 per cent.
Scottish borrowers will also have access to a GBP750 legal fee cashback offer on 5-year fixed to 75 per cent LTV.
The full range of LendInvest’s existing short-term loan products continue to be available to Scottish property professionals.
Ian Boden, Sales Director at LendInvest, says: “Scotland has always been a priority market for us as a lender. For a location with such huge potential, it’s surprising that the Scottish market continues to be undersupplied by active mortgage providers. Following the fantastic reception we’ve had for our BTL product so far in England and Wales, we are excited to be delivering the same high quality loans to the Scottish market.”
Recent research shows that property prices in Scotland have soared to an 11 year high, with Glasgow reporting the fastest growing house prices in the UK.*