"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."
Landbay has 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 a two-year fixed rate and 3.44% for a five-year fix. The range has a maximum 75% LTV and comes with a free valuation option for remortgages with a maximum loan size of £1m.
West One Loans has lowered rates on two of its buy-to-let products which were re-introduced to the range earlier this year.
Price reductions of 15bps apply on both the holiday let and expat semi-exclusive products. West One re-entered the holiday let and expat markets in January, as part of a wider product launch by the specialist lender.
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.”
Andrew Ferguson, buy-to-let MD at West One, commented: “We re-entered these markets back in January and have been pleased with the response we’ve seen. These price changes reflect our ongoing support for the products in a market where we see great potential.
“It follows on from a very busy start to the year for West One’s buy-to-let team, which has included the launch of new products and a new funding agreement which means we’re able to offer more choice to brokers and their clients, broadening our proposition still further.
“Whether it’s first-time landlords, portfolio landlords or clients who need to fund a more niche transaction in the current market, such as holiday lets, we are here to support.”
