Peer-to-peer mortgage lender Landbay has partnered with mortgage packaging and distribution experts Brilliant Solutions to provide a range of specialist lending products to the buy-to-let market.
Landbay, a specialist in the buy-to-let market, will join Brilliant Solutions’ lender panel, helping their brokers to offer professional buy-to-let landlord clients with bespoke mortgage offers. This includes products for HMOs, expat borrowers and Multiple Units in Freehold Blocks.
In addition, Brilliant Solutions’ brokers will have access to Landbay’s new online intermediary portal, including features such as “case tracking” and a “property portfolio key”.
The online portal allows brokers to input detailed analysis of total rent cover and the existing mortgage risk of a professional landlord’s full portfolio, with requirements of the industry set to change in September 2017. Once the online application process has been completed, Landbay generally issues an Offer in Principle within two days and can complete loans within 21 days.
“We are delighted to have joined the Brilliant Solutions panel following the recent launch of our online intermediary portal last month and our full FCA regulation at the end of last year,” Paul Clampin, Chief Lending Officer at Landbay, said.
“Brilliant Solutions offers access to a strong network of brokers across England and Wales, and their typical customer profile is a perfect match for the professional landlords we are targeting.”
Matthew Arena, Managing Director of Brilliant Solutions, added: “Landbay are a great addition to our panel of lenders, their unique business model and focus on such an important niche in the BTL mortgage market make them of great value to our brokers and their professional landlord clients alike.”