9:17 AM, 20th November 2023, About 3 weeks ago
Landbay, the BTL powerhouse taking on the bigger lenders in the fold have released a 4.75% mortgage rate!
This is undercutting a huge amount of other products currently available and will see them edge forward into mainstream even more.
At a time when swap rates are high, they are not going to be making money on this rate, so they are charging a 7% fee for the product.
The best thing about this is that its stressed at pay rate, which means much more affordability into the main mortgage loan.
Lower rents can now be mortgage as long as it still fits.
Landbay are good with some of the quirkier BTL properties and also accept trading companies. Not just standard SPV.
As part of their service to us, they also offer a pre-application property check too, so no money and time loss if they don’t accept the property.
Remortgage and Purchase, Intercompany loans as deposit, as well as:
• SPV, trading businesses and layered companies all accepted
• Market leading affordability
• Declared income used for personal BTL’s (not gross rental)
• Family gifts & inter company loans for deposits accepted
• Complex partnership/company incorporations
• Portfolio landlords – no background LTV or borrowing limit
• Flats above commercial at 75%
• No min income for experienced landlords
• Day 1 Remo’s (market value considered)
• New build houses/flats up to 75%
• Capital raising for any legal purpose (but not for tax bills!)
• High rise blocks private blocks (no story limit)
• FTL HMO MUFB – 6 units
• HMO and MUFB up to 12 units/rooms (15 by referral)
• HMO’s with pending licenses
• Hybrid properties (eg, Part HMO/MUFB)
• Investment valuations considered on HMO/MUFB
• Tracker range with no ERC’s
Get in touch and see if this one works for you.
Mortgages, Commercial and Bridging Finance, Life Insurance, Wills, Trusts and LPA's