Landbay launches new product range to cater for increasing number of new landlords
Landbay, one of the UK’s leading buy-to-let lenders, has today launched a new range of products dedicated to non-portfolio landlords looking to invest in buy-to-let properties. The new range is exclusively available to those with three or fewer buy-to-let properties.
Designed to cater for the increasing number of people looking to invest in properties, rates on the products start from 3.14% for the two-year fixed rate and 3.44% for the five-year fixed rate. The range has a maximum 75% Loan to Value (LTV) and comes with a free valuation option for remortgages with a maximum loan size of £1m.
The volatility in the stock market combined with the resilience in the housing market has resulted in an increase in first-time landlords, and this trend is expected to continue in 2021.
Paul Brett, managing director of intermediaries at Landbay, said, “Now is a great time to invest in buy-to-let properties and demand in the buy-to-let sector is booming. Rent is increasing across the country, the stamp duty holiday is rumoured to be extended by three-months and house prices continue to rise.
“It is no surprise to see more and more first-time landlords looking to invest, and those with one or two properties looking to increase their portfolios. Adding these products to our already market-leading range will ensure we fully support this growing number of potential landlords. Combined with our new calculator, cutting-edge technology and exceptional service, our product range caters for every client, whether new to the sector, or purchasing their latest portfolio property.”
Landbay has funding for its buy-to-let mortgages from multiple different bank and institutional funding sources. It recently reached number six on the Deloitte UK Fast 50 due to a 5,500% growth in turnover over the past four years. Landbay was the top ranked mortgage lender and is listed as the third fastest growing fintech business on the list.
