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TODAY'S OTHER NEWS

Landbay reduces rates and fees across most BTL products

LandBay has cut rates and fees across its product range for amateur and professional buy-to-let landlords.

Rates now start at 3.39% for a 2-year fix and 3.59% for a 5-year fix, with arrangement fees up to 75% on standard products reduced from 1.75% to 1.5%.

The specialist buy-to-let lender has also raised the maximum age at the end of term from 80 to 85 years and cut the first-time HMO purchase buy-to-let experience requirement by 50% to 12 months.

Expatriates are now able to borrow via a UK limited company, while self-employed expatriates with a minimum income of £60,000 will also be considered, along with those who do not work for a multinational 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, said: “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.”

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