Landbay has launched three professional landlord products – a standard term tracker, HMO tracker and expat term tracker.
All products will be to 75% loan-to-value – with the standard term tracker standing at 3.88%, the HMO tracker 3.98% and the expat term tracker 4.38%.
Products are available through Landbay’s broker partners: Atom, Brightstar, Complete fs, Connect Mortgages, Mortgage for Business, The Business Mortgage Company, The Buy to Let Business.
Paul Clampin, chief lending officer of Landbay, said: “Our new buy-to-let mortgage products have been specifically designed to serve the needs of the professional landlord and help brokers build on the opportunities currently within the market. Landbay prides itself in design products and a fast service crucial for brokers.”
Landbay has also changed its criteria to require a minimum income of £25,000 for employed or £40,000 for expats.
Its minimum property values meanwhile are £80,000 for standard properties and £150,000 for HMO’s.