LendInvest scraps early repayment charges on tracker range

LendInvest has revealed a comprehensive overhaul of its BTL tracker range.

The lender has removed early repayment charges (ERCs) across all tracker products.

It has also reduced initial pay rates and boosted maximum LTV limits on specialist asset classes to 75% across holiday lets, small MUFBs and large HMOs.

Additionally, rates on its 3% fee tracker products have been cut by nine bps to 39bps depending on the property type.

Property investors can also access a new range of tracker products tailored specifically for large MUFBs.

By pairing these new tracker options with the complete removal of exit penalties, LendInvest said it is empowering landlords to capitalise on potential rate reductions while retaining the freedom to lock into a fixed rate later without financial penalty.

The lender said it has also improved its affordability and Interest Coverage Ratio (ICR) stress testing.

Darrell Walker, managing director for mortgages at LendInvest (pictured above), said: “In today’s market, property investors need both affordability and agility.

By eliminating Early Repayment Charges across our tracker suite, we are removing tie-ins and giving landlords total confidence to manage their portfolios flexibly.

“Combined with reduced rates, higher LTV leverage on complex assets and our new large MUFB tracker proposition, this overhaul reflects LendInvest’s ongoing commitment to supporting brokers and their landlord clients with competitive, real-world financing solutions.”