Landbay launches new range of non-portfolio buy-to-let products
Buy-to-let lender Landbay has strengthened its product offering with a brand-new range of non-portfolio products, all while making further rate reductions and new product additions.
The new non-portfolio product range is designed for landlords with three or less mortgaged properties. It includes five-year fixed rate products, available at up to 75% loan-to-value (LTV) and with rates starting from 4.39%.
In addition to the new range, Landbay has also launched two new standard five-year products, available at up to 55% LTV. The existing 55% LTV standard five-year range has also been reduced by 0.25%, with rates now starting at 4.44%.
The news follows rate reductions earlier this week across its standard five-year, standard two-year and two-year like-for-like remortgage range by as much as 0.25%. Two-year small HMO/MUFB products also saw a reduction of 0.10%.
As expected from Landbay, the products are available using its variable fee structure for increased affordability. Both new and existing product ranges are available for intermediaries to view and compare using its buy-to-let affordability calculator.
Product highlights include:
- Non-portfolio 5 year fixed up to 75% LTV, with rates from 4.39%
- NEW standard 5 year fixed 55% LTV @ 5.24% with 3% fee
- NEW standard 5 year fixed 55% LTV @ 5.44% with 2% fee
Rob Stanton, sales and distribution director at Landbay, said: “We are always looking to make our range as broad as possible to help our broker clients meet needs across their client base. Introducing our new non-portfolio range only proves this point, helping brokers best support those smaller landlords through a competitive range of products. According to our latest survey, 45% of landlords with three or less properties are looking to buy properties in the next 12 months, so it’s only right we help our brokers answer this demand.
“Then following rate reductions earlier this week, we’re thrilled to be able to make further movements across our range, as well as introduce new 55% LTV products. As the market continues to adapt and develop, we’ll keep our ear close to ground and identify opportunities to improve and expand our product range.”
