Landbay refreshes buy-to-let range

22 October 2020 | General

Specialist buy-to-let lender Landbay has refreshed its core product range.

The lender has introduced a free valuation on its 5-year fixed rate mortgage to 75% LTV, and reduced the rate from 3.69% to 3.65%. Title indemnity insurance is also offered across its ranges.

Despite the slow lender times across the market, Landbay said most offers are still being issued within 72 hours.

Paul Brett, managing director of intermediaries, at Landbay, said: “Over the past month we’ve seen unprecedented demand from brokers and their clients.

“We are always listening to what the market is telling us and as a result we have relaunched our whole product range with lower rates.

“These enhancements, together with free title indemnity insurance and free valuations across qualifying cases means that more cases will complete, more quickly, with a significant cost reduction to the borrower.

“We know this refresh will be greatly welcomed and we anticipate it will continue to grow the exceptional levels of activity that we’ve seen.

“Despite the high demand, we’re committed to providing excellent customer service that our intermediary partners deserve. Our application process is completely paperless and online, therefore we don’t have any delays in the reviewing of post, because we don’t have any.”

Landbay’s other 5-year fixed rates start at 3.49%, previously 3.54%, while its standard 2-year fixed rates now start at 3.19%, down from 3.39%.

The lender has also launched new 70% LTV products, while keeping rates the same as they were at 60% LTV

It has also reduced rates on houses in multiple occupation and multi-unit freehold block products.

This post has originally been featured in Property Wire.