Lendinvest Intros Free Fee Loans, Suffolk BS Trims Expat Rate Up to 16bps – Syringe Strategy

Lendinvest has launched a no-fee product, while the Suffolk Building Association will reduce the rate of foreign landlords by up to 16 basis points.

Fintech platform says new purchases and repurchases selected among various property types will not be provided with product fees.

It also launched a range of pre-free paid product transfer options.

Paula Mercer, Director of Sales at Lendinvest, said: “By eliminating the expense of new purchases and liability for product, we offer real estate investors the opportunity to maximize their investment potential.

“For borrowers to the end of the loan, the introduction of upfront free paid product transfers, coupled with the latest updates from our mortgage portal, allows them to seamlessly get a new financing line without sacrificing a lot of time.”

Meanwhile, the Suffolk Building Society will cut two- and five-year fixed loans in its residential, purchase-to-holiday and holiday loans, bringing loans up to 16bps.

Charlotte Grimshaw, an intermediary agency of the Suffolk Architecture Association, emphasized common experience in the market, saying it “has been in the foreign market for nearly two decades and has received applications from British nationals living in 92 countries around the world.”

The lender also cut interest rates on two standard landlord products and two BTL light renovation mortgages by 15bps. The two two-year fixes will also be extended to the end date, and another holiday LET product will be carried out.