LendInvest has enhanced the maximum loan size on five-year-fixed rate buy-to-let products from £500,000 to £750,000.
The ICR has been calculated at the product pay rate of 3.6 per cent, according to the firm.
Also, the valuation fee has been reduced to £150 from £190, on standard residential loans, and free title insurance has been extended to HMO refinance cases on properties with up to 15 rooms.
LendInvest adds that on up to 75% LTV five-year-fixed, it will pay a maximum contribution of £850 towards legal fees – this figure increases to £1,000 for repeat borrowers.
Ian Boden, LendInvest sales director, says: “We listen closely to our customers and the market when it comes to delivering the best offering for our borrowers.
“Access to capital is crucial when a landlord is growing their property portfolio – these product changes provide a significant reduction in the upfront cost our customers face when acquiring finance.”