Landbay reduces rates and fees in full-suite product refresh

Specialist buy-to-let lender Landbay has announced a product refresh, which will expand and enhance more than thirty products for professional landlords.

The refreshed range – available to all buy-to-let landlords – includes a reduction in rates by up to 0.60% and fee cuts by up to 0.5%.

A variety of products will undergo changes, including fixed and tracker products across standard properties, small and large houses in multiple occupation (HMOs), multi-units and expat lending.

These will be accessible through Landbay’s network and club partners. Recent additions include The Mortgage Compliance & Insurance Club and The Right Mortgage & Protection Network.

The lender is also launching an exclusive lending update for its packager partners; maximum loan size will increase from £1.5 million to £2 million for any of Landbay’s approved packager partners such as Dynamo, 3mc, Brightstar, Complete, Impact, MFB and Vantage.

The changes follow the increase of the maximum loan term earlier this year from 25 to 30 years and come at a time of growth and expansion for Landbay, both in terms of lending and headcount.

“In the everchanging world of buy-to-let, brokers and landlords alike need access to a wider offering and more flexibility than ever before,” Paul Brett, managing director of intermediaries at Landbay, commented.

“This product revamp is designed to help brokers support more of their landlord clients. The increased loan size and reduced rates will ensure we remain competitive in the market.”

He continued: “This is especially the case in more unusual cases, which are becoming ever more commonplace in the specialist world of buy-to-let.”

Doug Hall, director of 3mc, added: “Landbay has always put its partners and brokers first, and this is a prime example of reflecting that attitude into action.”

“Our network of brokers need innovative solutions to their problems, especially with hard-to-place cases, and these refreshed product criteria will go one step further in meeting that need.”