MPowered Mortgages recently moved into unregulated buy-to-let (BTL), providing funding to individual, limited company and portfolio landlords.
Virgin Money has also made various changes to rates on its product transfer range.
The product has a 1.5% fee, which can be added to the loan, and is available on Vida’s core BTL criteria, including flats over commercial premises.
Applications will be considered from select locations across the UK, based on analysis of demand, including London, Manchester, Birmingham and Bristol.
Paul Brett, managing director of intermediaries at Landbay, said: “As a technology-led lender, we are constantly looking at ways in which we can streamline the customer journey.”
Private sector tenants are leaving London in response to the COVID-19 pandemic, according to research from the National Residential Landlords Association (NRLA).
Zephyr Homeloans has cut rates on its 75% loan-to-value (LTV) 5-year, fixed-rate loans and introduced a 2% product fee option across its entire range.
Foundation Home Loans has launched a number of products, including fee-assisted options for purchases as well as remortgages.
The Mortgage Lender has launched a limited edition £100m 5-year fixed buy-to-let (BTL) product.
Paratus AMC trades as Foundation Home Loans.