Buy-to-let lender Landbay has announced a product refresh across a series of its products, including the addition of fees to 80% loan-to-value (LTV) products.
The lender’s standard five-year 80% LTV product rate now stands at 3.89%, and across all revised standard 80% LTV products fees can now be added.
Across the wider product range, the buy-to-let lender has lowered the minimum landlord income to £15,000, reduced the minimum loan value from £50,000 to £30,000 and revised the minimum property value, which was reduced to £75,000 for standard properties, and HMOS in qualifying areas.
In addition, the maximum standard property loan amount increased to £2m for up to 75% LTV products.
The reworked products are now available to buy-to-let landlords via Landbay’s intermediary partners.
Paul Brett, managing director of intermediaries at Landbay, said: “We are constantly working to improve and update the products we already have, as well as working to develop new ones. It is critical for us to be keeping our ear on the ground of the buy-to-let marketplace, and today’s product revamp will ensure that our customers can take advantage of the competitive propositions we have to offer.
“As part of our product refresh, we’re especially pleased with the changes to the 80% LTV products. These changes are part of our strategy to extend our product offering to an even wider range of borrowers, helping our partners support more landlords across the country.”
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