"Our new buy-to-let mortgage products have been specifically designed to serve the needs of the professional landlord"
Peer-to-peer lending platform Landbay has launched a new range aimed at professional landlords, including products for HMOs and expats.
The three products, available up to 75% LTV, include a standard term tracker at 3.88%, a HMO/MUFB term tracker at 3.98%, and an expat term tracker at 4.38%.
The new tracker products will be available exclusively via Landbay’s approved broker partners: Atom, Brightstar, Complete fs, Connect Mortgages, Mortgage for Business, The Business Mortgage Company, The Buy to Let Business.
In addition, Landbay has changed it criteria to require a minimum income of £25,000 for employed (£40,000 equivalent from expats). Its minimum property values are £80,000 for standard properties and £150,000 for HMOs.
Paul Clampin, Chief Lending Officer at Landbay, commented: “Our new buy-to-let mortgage products have been specifically designed to serve the needs of the professional landlord and help brokers build on the opportunities currently within the market. Landbay prides itself in design products and a fast service crucial for brokers."