LendInvest Mortgages has confirmed a 10 basis points (bps) rate cut across all its five-year fixed term residential mortgages.

The lender will also offer a cash back incentive of £400 across its entire residential range.

The lender’s lowest rates for a five-year term residential mortgage start from 5.19%.

This cashback and rate reduction are designed for housebuyers and those looking to remortgage who may not fit into the credit score-based lending criteria of most high street banks.

The company recently redesigned their credit criteria that factors in adverse credit history.

Commenting on the product changes, LendInvest director of sales Paula Mercer said: “This cashback incentive, along with a 10bps reduction on all of our five-year fixed term residential mortgages will empower and enable brokers to support their clients who may no longer fit the traditional mould of high street lending.”