Ian Boden, sales director at LendInvest, says the business's priority is to ensure the right technology is in place to make brokers’ lives easier.
He was speaking after the specialist property finance lender launched a new buy-to-let (BTL) online calculator for intermediaries. This is the latest in a series of ongoing improvements to the lender’s online calculators, aimed at making the loan application process as easy and straightforward as possible. It’s also a tool that’s been specially designed to work well in tandem with LendInvest’s fully online BTL application system.
LendInvest’s buy-to-let calculator is designed to give the most accurate borrowing range and cover criteria for single properties, HMOs (houses of multiple occupation) and MUFBs (multi-unit freehold blocks).
Intermediaries can use the online tool to swiftly calculate LTV, annual rental yield and the maximum gross loan amount in one single place. The calculator caters for both individual and limited company applications.
LendInvest launched its BTL product in late November 2017 and has already established a broker panel of more than 200 intermediaries. LendInvest BTL loans are available for amounts between £50,000 and £5 million, and on terms of up to 30 years. Loans are available for professional individuals and limited companies, a maximum loan-to-value of 80 per cent applies. And Mr Boden said:
“At LendInvest, our priority is making sure the right technology is in place to make our brokers’ lives easier. This new calculator is focused on delivering a simple, no-fuss experience for our intermediaries so they can make quick, and more importantly, accurate decisions for their clients.”
Initial market testing of the new online calculator has yielded positive feedback from brokers, it is said. James Hardwick, of Charleston Financial, in Milton Keynes, said:
“LendInvest’s online calculator is the best in the market. It’s really helping brokers to do a quick quotation of affordability, before progressing an application through the excellent online broker portal.”