LendInvest Mortgages has reduced rates on its residential mortgage range and expanded eligibility criteria to improve affordability on its products.
The lender has reduced its two-year fixes by 15bps and its its five-year fixes by 10bps across its residential range.
At the same time it has expanded the eligibility criteria for qualified professionals and key workers. The updated list now includes a broader range of occupations, including psychologists, social workers, prison officers, prisoner custody officers and teaching staff, which now covers teaching assistants and university lecturers.
LendInvest has also increased flexibility of its mortgage products, and will not now take into account settled communication and utility bills that are under £250 per applicant. It says this change should help make products more accessible to a wider range of customers.
The lenders will continue to offer a loan-to-income ratio of 6.49 times and offers direct access to underwriters and live updates through its portal.
LendInvest head of sales Paula Mercer says: “By lowering our rates and expanding our eligibility criteria we are ensuring that more people will benefit from our tailored mortgage solutions.”
