LendInvest will now provide pre-agreed limits on how much it will lend, meaning landlords can then go through a shorter underwriting process when applying for a mortgage.
As part of a standard mortgage application, if an appetite statement is requested an interview will be carried out to ascertain the borrower’s business plan along with their financial and credit standing. The borrower applying for the statement will need to provide a fully completed portfolio schedule and full business accounts.
When the landlord’s next purchase or remortgage case arises, they will know that that they have already secured the support of LendInvest as a financier.
Andy Virgo, director for buy-to-let at LendInvest, says: “Our aim has always been to give our borrowers the confidence to secure their next property with a solid financing offer on the table, we believe our new Appetite Statements will deliver on that aim in a whole new way.
“With buy-to-let landlords included in the recent SDLT reduction changes, there has been no better time to provide an investor with a sign of our commitment to them.”
This post has originally been featured in Property Wire.