Landbay has introduced a new range of ‘special edition’ buy-to-let mortgage products after agreeing a new funding partnership with Canada Square.
The new partnership complements Landbay’s existing institutional funding arrangements and will allow the lender to broaden its product range, which is available to buy-to-let investors via mortgage intermediaries.
John Goodall, CEO at Landbay, said, “This new funding partnership and our contribution to the successful Canada Square securitisation earlier this month, together with the measures that we have put in place over the past three months, means that Landbay is one of the few lenders emerging from the pandemic stronger than we went in. We have continued to lend throughout the year, including throughout the lockdown.”
Landbay’s new mortgage range includes a selection of two- and five-year products, starting from 3.09% and 3.35% respectively, with all deals subject to an arrangement fee of 1.5%.
Landbay is rapidly becoming one of the leading specialist buy-to-let lenders in the market, according to Ying Tan, founder and chief executive of Dynamo.
He commented: “This new funding line and successful recent securitisation shows the faith that the financial markets have in Landbay and its origination model. It is a very positive sign for the future of buy-to-let.”
Doug Hall, director of 3MC, added: “Landbay has been known, since day one, as one of those lenders who will always go the extra mile for intermediaries and for their clients.
“A new funding line and even lower rates will make them still more competitive and offer even better deals for landlord borrowers.”
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