Landbay launches fee-free five-year fixed-rate BTL mortgages

Landbay launches fee-free five-year fixed-rate BTL mortgages

0:10 AM, 20th February 2024, About 2 months ago

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Landbay has announced the launch of two new fee-free five-year fixed-rate mortgages for landlords, with competitive rates and flexible terms.

The first product is a standard five-year fixed-rate mortgage at 5.69%, which can be borrowed up to 75% of the property value, with a maximum loan amount of £1.5 million.

The second product is part of specialist buy to let lender’s innovative range of mortgages that use automated valuation models (AVMs) to speed up the valuation process and reduce costs. This product is also a standard five-year fixed-rate mortgage at 5.69%, but it can only be borrowed up to 70% of the property value, with a maximum property value of £750,000.

Both products have a minimum loan amount of £65,000 and are available for purchase or remortgage of residential or commercial properties across the UK.

‘Expand and enhance our product range’

Landbay’s sales and distribution director, Rob Stanton, said: “We pride ourselves on our ability to respond quickly to opportunities to expand and enhance our product range.

“It’s all part of our commitment to our broker partners to provide a product range that is broad and diverse enough to meet the requirements of their landlord clients across the country.”

He added: “While the rate may not be suitable for every client, it will certainly work for those with no appetite for fees or those borrowers with higher-yielding properties.”

More choice and flexibility for landlords

The new fee-free products complement Landbay’s existing variable fee structure, which offers more choice and flexibility for landlords and intermediaries.

All the lender’s BTL mortgage products can be easily compared using its online buy to let affordability calculator.

Mr Stanton said: “As affordability continues to improve, we’re thrilled to offer landlords two superb zero-fee options, including our latest addition to the AVM product range.

“This range has been met with outstanding feedback from our intermediary partners, further enhancing our commitment to providing valuable solutions in the property market.”

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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