Landbay introduces 75% LTV products and recommences physical valuations

Jessica Bird

June 1, 2020

Paul Brett landbay

Institutionally funded buy-to-let (BTL) lender Landbay has launched a product range with loan-to-values (LTVs) of up to 75%.

Rates on the range start from 3.39%, and Landbay will also lend both on large and small houses in multiple occupation (HMOs) of up 12 units, multi-unit freehold blocks (MUFBs) and new-build properties.

Landbay has continued to lend on buy-to-let properties throughout the lockdown; it also continues to offer its lifetime tracker rate with no early redemption charges.

The lender resumed physical valuations last week, making them available on all new buy-to-let applications; it is also working through its pipeline of loans from applications received throughout the lockdown.

All new applications benefit from Landbay’s instant decision in principle (DiP), launched at the end of March.

Landbay’s application process uses intuitive technology and is paperless from start to finish.

Paul Brett (pictured), managing director of intermediaries at Landbay, said: “It is good to be able to support our loyal brokers and increase our range of mortgages, particularly with a 75% LTV product which we have received a huge amount of demand for.

“It has been our aim throughout this challenging period to be a supportive force for brokers and to be a steady presence in the market.

“And, due to our diversity of funding we have fortunately been able to continue lending throughout the whole of the last two months.

“This range will now help to give something more to our brokers and their clients, who are keen to remortgage or keep investing in the buy-to-let market.”

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