Landbay launches suite of holiday let products for landlords
Landbay has launched a new suite of holiday let products for landlords.
The buy-to-let lender is introducing four new fixed-rate options, all available up to 75% LTV. The suite includes a 2-year fixed product with a 5% fee priced at 4.19%, alongside an alternative 2-year fixed with a 3% fee at 5.19%.
For landlords seeking longer-term certainty, there is a five-year fixed at 5.29% with a 5% fee, as well as a five-year option at 5.69% with a 3% fee.
Loan sizes will range between £100,000 and £1 million, with a maximum of five properties permitted.
Rob Stanton, sales and distribution director at Landbay, said: “Holiday lets are an area of interest for many landlords – particularly with the long-term growth of the staycation market. By launching this dedicated suite of products, we are giving brokers and their borrower clients straightforward access to products that have been designed with the quirks of holiday letting in mind. Competitive rates, clear criteria and flexible loan sizes mean we can support landlords looking to diversify their portfolios.”
Landbay has also redesigned its buy-to-let products into three new product sets.
The Premier set consists of standard products for landlords with up to 15 properties in limited company SPVs and features competitive rates.
Landbay’s Core set offers lending solutions for portfolio landlords including options for limited company structures as well as access to Landbay’s AVM products.
The Specialist set will offer extra flexibility for more specialised properties – including holiday lets, HMOs, MUFBs and trading companies.
Every product set includes a range of corresponding product transfers.
Rob Stanton said: “We’ve taken the opportunity to simplify our wider buy-to-let range into three clear product sets – Premier, Core and Specialist. This makes it easier for brokers to navigate our offering and quickly find the right solution for their landlord clients. Whether it’s a straightforward limited company application, a large portfolio case or a more complex property such as a holiday let or an HMO, our new structure will make the process, faster, simpler and more transparent.”
Additionally, Landbay announced they had reduced the Premier set’s rates by 0.10% for the 2-year fixed rate product – and by 0.5% for the 5-year fixed rate products.