Landbay has launched a limited time 3.39% 5-year fixed rate product which includes a free property valuation.
The buy-to-let mortgage lender will provide a free valuation for standard properties valued up to £400k whilst the product itself is available for loans up to 300k (max loan-to-value (LTV) 75%) and comes with a 1.5% product fee.
Paul Brett (pictured), managing director of intermediaries at Landbay, said: “We are committed to remaining as competitive as possible in an ever more specialist buy-to-let market.
“We’re delighted to launch a product which will directly meet the needs of landlords, and in turn support their brokers working in the private rental sector.
“This is just the start of a suite of offerings we expect to make in 2020, allowing us significantly grow our lending operation in the year ahead.”
The launch comes at a time of significant growth for Landbay, which saw a 200% rise in lending volumes in 2019 supported by a £1bn institutional funding agreement last summer.
The product will be available to intermediaries using either Landbay’s packager partners or their panel of networks or mortgage clubs.