Compare Criteria

LendInvest

Mortgage Type

Specialist BTL/Commercial

Property Value (min)

£75,000 (£150,000 - London) Standard - £150,000 (£300,000 - London) HMOs & Multi Units

Advance (min)

£50,000 including HMO
£150,000 for 3mc exclusive

Advance (max)

Single units : - £750,000 up to 70% and 75% LTV £500,000 up to 80% LTV

Multi unit Up to 70% LTV - £750,000.

HMO - £500,000 up to 75% LTV
£750,000 up to 70% LTV

Up to £5mill with a maximum of 20 properties aggregated.

Term (Max)

30 years

Minimum Age

21 years

Maximum Age

85 at the end of the mortgage term

Family Cash Gift Deposit

Accepted

Family Gift of Equity Deposit

Accepted

Income (min)

£30,000 across all applicants

Restrictions

Residential Investment properties only, HMO's up to 15 rooms, Multi Unit Freeholds up to 10 units (15 units in Greater London).
Ltd Companies (Limited Companies must be NON-Trading SPV's);
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Maximum of 20 loans to £5 million total BTL borrowing with Lendinvest. Above £3m of borrowing the aggregated LTV on the portfolio will be restricted with a maximum exposure on any Buy-to-Let portfolio of loans with LendInvest of £5,000,000 at a maximum LTV of 60%.
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First time landlords considered for standard properties:
2 years experience of managing a buy to let portfolio required for HMO.
HMOs with kitchenettes will be limited to 70% LTV

The Bank will consider lending on the following property types:
Houses, Flats, Maisonettes, Apartments. Including New Build (with full certificates in place)
Studio Flats - (in London only; max 70% LTV) with a minimum gross internal floor area of 30 sq. metres. Accepted subject to underwriting & valuers commentary.
For Flats in a block up to 5 storeys (must have a lift if over 3 storeys). Flats up to 10 storeys accepted in Greater London.
Ex Local Authority flats if in a privately owned block (Greater London only)
Leasehold properties must have at least 65 years remaining at the end of the mortgage term. Commonhold and Shared Ownership are not accepted.
Existing HMO's must have all appropriate licences in place. New HMO's must meet all local authority licensing requirements prior to completion and an HMO licence must be obtained within 90 days post completion.
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Concentration
No more than 4 units or 25 % of total units allowable in one block (blocks of flats is 25% or 4 units whichever is the lower).
Maximum of 2 properties in one post code location (eg BH15 1)
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Property above Commercial:
Flats above public houses or food premises are not accepted.

Where a shareholder with less than 25% shareholding or a director who can be defined as having a significant controlling role in the business we will require personal guarantees and these officers to be added to the application.

Let to Buy (Turning Residential into Buy to Let)

No

DWP Tenants

Yes, can consider

Ex-Local Authority Properties

Accepted

Minimum years remaining on leasehold property

65 years at the end of term

Minimum Ownership

No minimum although valid explanation required if remortgaging prior to 6 months

Permanent rights to reside and remain

Must have 3 year UK residential history and permanent right to reside (tier 2 Product pricing)

Ex-Patriates

No

New Builds

Accepted

Credit Score

No credit scoring, credit check only

Rental Calculation

Single Unit Properties: –
Basic rate taxpayers (20%) 125%

Limited company or LLP 125%

Higher rate taxpayer (40%) 140%

Additional rate taxpayer (45%) 140%

Refinance (no capital raised) 125%

HMO / Multi units
Basic rate taxpayers (20%) 130%

Limited company or LLP 130%

Higher rate taxpayer (40%) 145%

Additional rate taxpayer (45%) 145%

Refinance (no capital raised) 135%

@ 5% or 4.19% if using 5 year fixed product

Historic CCJ’s & Defaults

Tier 1. No CCJ or defaults in last 5 years. Tier 2. No CCJ in last year. 1 in past 2 years must be satisfied at completion. No defaults in past year. 2 in past 2 years.

Valuation Fees

Please see product guide for further details on valuation fees.

Maximum number of applicants

2 indivdual, 4 Company Directors

Countries

Will lend in England and Wales only

Access

Access to LendInvest is available via selected packagers only, of which 3mc are one

Property Type / Commercial

Houses
New builds (with full certificates in place)
Flats
Maisonettes
Apartments including new builds
HMOs (up to 15 rooms) and Multi Unit Freehold
HMOs with kitchenettes will be limited to 70% LTV
Flats in blocks up to 5 storeys
Flats up to 10 storeys In Greater London
accepted subject to valuers commentary.
Ex-local authority flats considered If in a privately owned block (Greater London only)

Portfolio Landlords

Portfolio Landlords Accepted

Background Portfolio Requirements

– No maximum LTV for the overall portfolio
– A minimum rental stress of 125% at 5.5%

Portfolio Landlord Criteria

– Maximum of 20 loans to £5 million total BTL borrowing with Lendinvest
– No limit on the size of existing portfolio with other lenders

Additional Document Requirements

– Portfolio Schedule – All cases
– Business Plan – Not required
– Asset & Liability Statement – Not required
– Cashflow Statement – Not required
* Lender will accept client versions so long as covers the lenders minimum requirements