LendInvest has increased the maximum loan size for all property types and introduced a cashback contribution towards legal fees.

The maximum loan size for both HMO’s and MUFB’s has increased to £3m; and buy-to-let customers will receive a £500 cashback contribution towards legal fees, on 75 per cent LTV five-year fixed rate products.

Additionally, the lender has upped its definition of a small HMO from 6 bedrooms to 8, increased its definition of a large HMO from 9 to 15 bedrooms, and the definition of a MUFB has risen from six units to 10.

A large loan range has also been introduced for standard properties and small HMO’s, with products available up to £2m at a maximum 70 per cent LTV.

LendInvest sales director Ian Boden says: “After a fantastic 2019 for our BTL product, we are excited to be hitting the ground running this year with a broadening of our product criteria.

“Ever eager to increase the flexibility of our product, we are confident these changes will put us in good stead for a busy 2020; and look forward to further increasing our loan volumes in the coming months.”