"The buy to let market is set to become more complex in 2017, as landlords face an increasingly intricate lending landscape and tighter regulation."
Landbay has launched a new range of products aimed at professional landlords in response to "a more complex lending environment in 2017".
Standard term trackers now start from 3.88%, HMO trackers from 3.98% and Expat trackers from 4.38%.
Fixed rate products are available at 4.2%, including a five-year fix from 4.4% with ICR based on pay rate.
Landbay has also increased the maximum LTV to 80% on some products.
All new products use pay rate to make initial ICR calculations, however Landbay runs an underlying affordability calculator to ensure that, as a whole, the application meets a minimum ICR of 125% at 5.5%.
Paul Clampin, Chief Lending Officer of Landbay, commented: “The buy to let market is set to become more complex in 2017, as landlords face an increasingly intricate lending landscape and tighter regulation. It’s in such a context that borrowers and brokers need solutions that meet their changing needs, so these new products have been designed to do just that for the growing number of professional landlords.
“As landlords move to navigate this complex environment, so too must lenders ensure that affordability calculations are robust, and in line with the rest of the industry. This is why we have chosen to refine our ICR calculations.”