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L&G General Mortgage Club Team Up with LendInvest

From today, advisers placing business with LendInvest via Legal & General Mortgage Club will benefit from exclusive discounts across its range of standard but-tolet mortgages [excludes HMOs].  

The ‘summer sale’ is expected to continue until the end of September 2021 and will mean advisers can offer their clients significant savings when it comes time to remortgage or finance a new buytolet property on a two- or five-year fixed rate deal.  

With the discount, rates begin at 2.85%, subject to a 5% ICR. The arrangement will mean that LendInvest’s pay rate will start from 3.19% and there is also a £150 valuation fee incentive on property up to £1 million. Borrowers can apply for a maximum loan size of £1.5 million and the discounts will also benefit first-time landlords, who are eligible up to 75% LTV.  

Advisers may either apply through LendInvest’s broker portal or contact a BDM to discuss their cases in further detail. 

Danny Belton, head of lender relationships at Legal & General Mortgage Club, said: “Advisers won’t want to miss out on these savings. LendInvest has launched an ambitious package of discounts across its standard range, which will be welcomed news for our advisers; helping them to keep client’s mortgage costs down. It is also pleasing to see that the offers are available to existing landlords, many of which will be looking to lock into a competitive deal in the wake of the introduction of stamp duty surcharge five years ago. We look forward to hearing more from our adviser community about the launch of the exclusives.” 

Andy Virgo, buytolet director at LendInvest, said: “We’re looking forward to bringing to market this range of discounted rates via the Legal & General Mortgage Club, which has long been a key provider in the mortgage market. Through its extensive network of intermediaries, we expect to help many landlords access competitive rates over the coming months.