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LendInvest has removed early repayment charges (ERCs) from its buy-to-let (BTL) tracker range, cut tracker rates and raised the stated maximum loan-to-value (LTV) for some specialist property types from 70% to 75%. The changes were reported on 1 October 2026. The lender’s product-switch guide, last updated that day, lists tracker products with 0%/0% ERCs, but rates, fees and eligibility differ by property category and product.
What changed in LendInvest’s BTL tracker range?
Mortgage Solutions reported on 1 October 2026 that LendInvest had reduced rates across its BTL tracker suite and removed ERCs from tracker products. The announcement also covered higher maximum LTVs for three specialist property classes and a dedicated tracker range for large multi-unit freehold blocks (MUFBs). These are product changes, not a promise that every property or applicant will qualify. Mortgage Solutions’ report and LendInvest are the sources for the announcement; the lender’s dated product-switch guide provides the listed product terms.
- ERCs: the announcement says these were removed across the tracker suite; tracker rows in the guide show 0%/0% ERCs.
- Tracker rates: rates were reduced, with current guide examples varying by property tier and fee choice.
- Specialist LTVs: the stated maximum rose from 70% to 75% for holiday lets, small MUFBs and large houses in multiple occupation (HMOs).
- Large MUFBs: a dedicated tracker range was introduced. The guide defines large MUFBs as 7 to 20 units.
Darrell Walker, LendInvest’s managing director for Mortgages, said lower initial rates were intended to support affordability and interest coverage ratio (ICR) calculations for broker applications. That is the lender’s stated rationale; the available sources do not quantify any effect on borrower outcomes, approvals or savings.
Which specialist properties have a 75% maximum LTV?
The announcement identifies holiday lets, small MUFBs and large HMOs as the categories whose stated maximum LTV increased from 70% to 75%. The figure is a product ceiling, not a guaranteed borrowing level: property classification, lender criteria and the individual application still matter. Confirm the applicable category and current criteria with LendInvest or a mortgage intermediary.
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LTV compares the mortgage with the property value. At a 75% LTV, a loan equal to 75% of the accepted property value would leave at least 25% of that value to fund from other sources, before fees and other costs. For example, 75% of a £200,000 valuation is £150,000; that illustration is arithmetic, not an indication that LendInvest would lend that amount on a particular property.
What tracker rates and fees does the guide list?
The product-switch guide dated 1 October 2026 lists the following two-year tracker examples for standard property. These are dated product entries, not personalised quotes. BBR means Bank of England Base Rate; a tracker’s payable rate moves with that rate according to the product margin. The guide prints a BBR value of 3.75%, which may change, so check the current guide rather than treating that printed figure as lasting.
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| Property category | Maximum LTV shown | Initial tracker rate | Product fee | ICR rate | ERC |
|---|---|---|---|---|---|
| Standard Tier 1 | 75% | BBR + 2.00% | 2% | 6.75% | 0%/0% |
| Standard Tier 1 | 75% | BBR + 1.50% | 3% | 6.25% | 0%/0% |
| Standard Tier 2 | 75% | BBR + 2.10% | 2% | 6.85% | 0%/0% |
| Standard Tier 2 | 75% | BBR + 1.60% | 3% | 6.35% | 0%/0% |
These examples show why the headline rate alone is not enough to compare products: within each tier, the lower listed margin is paired with the higher product fee and a lower ICR rate. The guide includes further tracker options for specialist categories, but their eligibility and terms vary; use the relevant property table rather than applying standard-tier figures to a specialist property. It also lists fixed-rate products, which may carry ERCs—the tracker ERC change should not be read as applying to fixed deals.
What to compare before choosing a tracker
Use the guide entry for the right property category, then compare the full terms rather than choosing on maximum LTV or initial rate alone. In particular, check:
- the initial rate and its BBR margin, and how payments could change if the Base Rate moves;
- the product fee and any listed incentive;
- the ICR or assessment rate used in the lender’s affordability calculation;
- the reversion rate and what happens when the initial tracker period ends;
- the ERC terms, maximum loan, product term and eligible property criteria.
The guide says the BTL products cover England, Wales and Scotland, while term ranges vary by category. Rates, fees, loan limits, LTVs and eligibility are date-sensitive; the guide’s last-updated date is 1 October 2026. Check the latest terms with the lender or intermediary before acting.
What does removing ERCs mean for landlords?
An ERC is a charge that may apply when a borrower repays or changes a mortgage during a specified period. With the tracker rows showing 0%/0% ERCs, those listed tracker products do not impose an ERC under the guide’s stated terms. That can offer flexibility to landlords who may want to repay or refinance, but it does not remove other costs, guarantee that a replacement mortgage will be available, or establish that a tracker is suitable for a particular borrower.
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Walker described the change as “removing tie-ins” and said it would give landlords confidence to manage portfolios flexibly. That is the executive’s characterization of the product change, not an independently measured outcome.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.How this compares with LendInvest’s earlier tracker offer
LendInvest also announced a two-year tracker range with no ERCs in October 2022. That is historical context only; it does not establish today’s rates or eligibility. For current terms, use the October 2026 guide and verify that the relevant product remains available.
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