LendInvest underlines the benefits of innovation
LendInvest has outlined how it continues to innovate through technology and product changes.
The publicly-listed online property lender said that “constant innovation requires close attention to the market and your brokers” and explained that it is constantly updating its product range.
Sophie Mitchell-Charman, sales director at LendInvest, said that the firm’s short-term and long-term mortgage offerings are both underpinned by technology.
She said LendInvest uses paperless applications, digitising the underwriting process and giving constant access to a broker’s business development manager, case manager and underwriter so brokers have full visibility of their deals, quick responses and good communication.
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In addition, Mitchell-Charman said the lender is constantly updating its product range based around broker feedback. For example, it now includes holiday lets and has relaxed its criteria to give more people a wider variety of investment properties to pursue.
She highlighted that LendInvest also has an environmental range which gives borrowers lower rates on properties with an A to C Energy Performance Certificate rating,
Mitchell-Charman added that the lender’s bridging team has created a high loan-to-value refurbishment product to help portfolio landlords refresh and enhance their properties and small- and medium-sized enterprise developers realise profits quickly.
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“Constant innovation requires close attention to the market and your brokers,” Mitchell-Charman said in a blog on LendInvest’s website.
“While no-one wants to be seen to be reactive, understanding what the market wants and meeting those needs is a fundamental of good and successful lending.
“That close relationship then enables you to lead by identifying gaps and stepping into areas so far untouched by other lenders, and your clients will thank you for it.”
In August, LendInvest said it had quickened its buy-to-let lending following a recent integration with software provider eTech.
This follows LendInvest changing its buy-to-let criteria as a result of broker feedback.