"These new products offer a fantastic opportunity for brokers to help more of their landlord clients, who will be needing specialist advice and products"
Rates now start at 3.39% for a two-year fix and 3.59% for a five-year fix, with arrangement fees up to 75% on standard products reduced from 1.75% to 1.5%.
Criteria changes include maximum age at end of term increasing from 80 to 85 years and first-time HMO purchase buy-to-let experience requirement reducing from 24 to 12 months.
Expatriates can now borrow via a UK Limited Company and self-employed expatriates will now be considered, providing a minimum income of £60,000 sterling equivalent. Employed expatriates are no longer required to work for a multi-national company.
All products are available through Landbay’s approved distributor partners: Atom, Brightstar, Complete fs, Connect Mortgages, Mortgage for Business, The Buy to Let Business and TBMC.
Paul Brett – Managing Director of Intermediaries at Landbay, commented: “These new products offer a fantastic opportunity for brokers to help more of their landlord clients, who will be needing specialist advice and products at this time of significant regulatory and fiscal change.
“We are constantly listening to our intermediary partners and to the requirements of the market. Our rates have been reduced across the board to ensure we remain competitive whilst our criteria enables us to serve a wide range of specialist borrowers seeking a fast decision. We strive to process new cases in 24 hours via our online portal and are offering cases within 48 hours of receipt of valuation. If an applicant needs speed, then I believe Landbay should be their first choice.”
