LendInvest launches new 3-year bridge product

Key features of the 3 year bridge product, which is available on loans between £100,000 and £2m, include that interest is charged at 6.99% (pay rate 4.99% with 2% interest deferred) to a max loan-to-value of 70% on day 1, rising to 75% as interested is rolled up. The product is available on terms from 1 to 36 months and with a 110% interest cover minimum.
 
Matthew Tooth, Chief Commercial Officer at LendInvest, said:

“Following an influx of enquiries from borrowers seeking to purchase or raise additional capital against a low yielding property, we developed this product with this niche audience in mind. The 3-Year Bridge acts as an alternative to a mainstream buy-to-let product, tailoring a traditional bridging loan for a longer term.”