Finance News

LandBay reduces rates and fees across many products

Em Morley - April 3, 2017

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

Rates now begin from 3.39% for a 2-year fix ad 3.59% for a 5-year fix. In addition, arrangement fees up to 75% on standard products have been reduced from 1.75% to 1.5%.

Changes

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

In addition, expats are now able to borrow via a UK limited company, with self-employed expats with a minimum income of £60,000 also considered.

All of these products will be available through Landbay’s approved distributor partners: Atom, Brightstar, Complete fs, Connect Mortgages, Mortgages for Business, The Buy-to-Let Business and TBMC.

LandBay reduces rates and fees across many products

LandBay reduces rates and fees across many products

Fantastic

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.’[1]

‘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,’ he added.[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2017/4/landbay-reduces-rates-and-fees-across-most-btl-products