Landbay launches two new market leading product
Landbay, one of the UK’s leading buy-to-let lenders, has today launched two new buy-to-let products with market leading rates. These new products, launching on the back of Landbay’s recent product refresh, have market leading rates and are both available at 75% LTV, fixed for five years.
The first of the new products is a standard five-year fixed rate at 3.55% with a FREE valuation and a maximum loan size of £525,000, available on properties up to £700,000. The second is also a standard five – at 3.55%, however it has a higher maximum loan of £1m.
Landbay, which is funded by multiple organisations, recently refreshed their product range in response to unprecedented demand and announced free Title Indemnity insurance on qualifying cases. Despite the high levels of demand Landbay is conducting all business, within its service level agreement with most offers being issued within 72 hours.
All new applications will benefit from Landbay’s instant Decision in Principle (DiP). Using intuitive technology, Landbay’s DiP takes only two minutes from start to finish, helping to fulfil its aim to combine cutting edge technology with the human touch. Intermediaries always have direct access to a highly experienced team of underwriters and BDMs who understand the buy-to-let mortgage market and the importance of getting a case over the line quickly.
Paul Brett, managing director of Intermediaries at Landbay, said, “It is a testament to Landbay’s confidence in the buy-to-let market that we can continue to lower our interest rates once again. This will be very welcome news to intermediaries as it will help their clients to make the most of the burgeoning buy-to-let market. There is still strong demand from professional landlords who are taking advantage of the savings from the stamp duty holiday to increase their portfolios.
“The recent Bank of England statistics showed the housing market is hitting heights not seen since 2007 and buy-to-let properties are amongst some of the most solid investments available at the moment. Therefore, these new products, combined with our recent complete product refresh, two-minute DiP, free valuations and free title insurance, we expect to be a real help to intermediaries and their clients who are rushing to buy before the end of the stamp duty holiday.”