LendInvest, a specialist property finance lender, has partnered with mortgage technology expert Mortgage Brain to bring its buy-to-let product to a wider market of intermediaries, as it seeks to continue to expand its distribution panel.
Mortgage Brain’s first and second charge online and desktop sourcing systems – MortgageBrain Anywhere and MortgageBrain Classic – enable brokers to source and access the best deals for their clients from the whole of the market. Its market-leading software systems streamline the sourcing process, allowing lenders to deliver finance to those who need it at speed.
This partnership follows recent changes to LendInvest’s buy-to-let product, in which it dropped its headline five-year fixed rate to 3.60%, with the interest coverage ratio (ICR) being assessed at the product pay rate of 3.60%.
The lender also reduced its product fees to 1% for all standard property and House in Multiple Occupation (HMO) mortgages.
By partnering with Mortgage Brain, LendInvest will now be able to roll out its buy-to-let product to the Mortgage Brain customer base of over 22,000 intermediaries.
Mark Lofthouse, the CEO of Mortgage Brain, comments: “We’re delighted to have completed this partnership with LendInvest. By making its buy-to-let product available, our customers now have an even greater choice, and the added certainty of being able to offer a first-class mortgage advice service that meets the individual needs of their clients.”
Ian Boden, the Sales Director at LendInvest, adds: “Partnering with a market leader in optimising the loan sourcing process, like Mortgage Brain, marries directly with our goals as a lender.
“Internally, our team works continuously to alleviate pain-points in the application process, and we strongly believe this should start at the point of search. As we ramp up the distribution of our buy-to-let product one year on, Mortgage Brain’s extensive and diverse member base will be a true asset.”