Mortgage TypeBridging Lenders
Property Value (min)£100,000 - lower considered
£250,000 Dev Exit
75% Resi bridging
70% Commercial/ land - up to £30m
Term (Max)Bridging - 18 months Dev exit - 12 months Development - 24 months
Minimum Age21 years
Maximum Age75 at the end of the term
Family Cash Gift DepositOn all purchase cases the source of deposit must be disclosed. LendInvest may request that evidence of the deposit is produced.
Family Gift of Equity DepositOn all purchase cases the source of deposit must be disclosed. LendInvest may request that evidence of the deposit is produced.
Income (min)No minimum income, however: -
Collectively, the applicants/directors must have a combined total income of £30,000 or more. This can include income from employment, self-employment, pensions, investments, and rental or other property income.
Will require verification of personal income in certain cases.
Acceptable income evidence should be one (or a combination) of the following: latest SA302, 3 months’ payslips, P60, or minimum 3 months’ bank statements
Restrictions1st charge only
Individual/SPV / LLP Limited Company
Standard BTL investment properties such as a house or Flat
HMO's up to a maximum of 15 bed - MUFBs.
Land with and without planning
Residential developments, max single unit GDV £1m.
Portfolio limit for landlords of up to 20 properties allowed with LendInvest, unlimited outside of LI.
Bridge to let option available - designed to secure the purchase of a run-down property and allow time for repairs and to make available for rent. To refinance an existing property that needs
modernisation to add value, or to meet the Minimum Energy Efficiency Standard.
To purchase or refinance a HMO that needs improvement to meet licensing rules.
Light refurbishment only for a short term mortgage
Refurbishment work that requires either building regulations approval or planning permission is not allowed: unless the planning permission is required for the change of use of a building from a dwelling house (Planning Use Class C3) to a small HMO (Planning Use Class C4) in a designated area where the local planning authority is operating an Article 4 direction.
Let to Buy (Turning Residential into Buy to Let)Yes, range dependent.
Ex-Local Authority PropertiesYes, considered.
Minimum years remaining on leasehold propertyFreehold, leasehold with 60+ years left on the lease
Minimum OwnershipNone for short term finance
Permanent rights to reside and remainYes, required.
Ex-PatriatesUK and non-UK residents and companies considered.
New BuildsYes, considered. See Restrictions and product guide for renovation criteria.
Light or heavy refurbishment, and minor development: structural, conversion or extension work that constitutes permitted development or for which existing planning permission is in place.
An exit strategy is required.
Historic CCJ’s & DefaultsConsidered on a case by case basis. However: -
Bankruptcy/IVA: No bankruptcy/IVA in the last three years. If bankruptcy/IVA occurred in the last six years, a full explanation is required.
For Development Exit: no bankruptcy.
County Court judgments (CCJs): All CCJs must be satisfied and should not exceed £5,000. If more than one CCJ is present in the last six years or if more than three CCJs are present in the last six years, please contact us. An explanation of any CCJ recorded is required in all cases.
For Development Exit: if more than three CCJs are present in the last three years, it will be referred.
Mortgage/secured loans: All secured loans should be up to date at the time of application with no arrears greater than one monthly payment in the last 36 months.Unsecured loans/revolving credit: Any arrears or defaults in the last 24 months are at the underwriter’s discretion to disregard.
Criminal convictions: Not permitted unless relating to motoring offences, or at the underwriter’s discretion.