Landbay has released two new buy-to-let products on the back of its recent product refresh.
The first of the new products is a standard five-year fixed rate at 3.55% with a free valuation and a maximum loan size of £525,000, available on properties up to £700,000.
The second is also a standard five-year fixed rate at 3.55%, however, with a higher maximum loan of £1 million.
Landbay, which is funded by multiple organisations, refreshed its product range in response to unprecedented demand and announced free Title Indemnity insurance on qualifying cases.
The lender is conducting all business within its service level agreement, with most offers being issued within 72 hours.
All new applications will benefit from Landbay’s instant Decision in Principle (DiP), which takes two minutes from start to finish. Intermediaries have direct access to an experienced team of underwriters who understand the importance of getting a case over the line quickly.
Paul Brett, managing director of Intermediaries at Landbay, said the new products will help clients to ‘make the most of the burgeoning buy-to-let market. He comments: “There is still strong demand from professional landlords who are taking advantage of the savings from the stamp duty holiday to increase their portfolios.”
“The recent Bank of England statistics showed the housing market is hitting heights not seen since 2007 and buy-to-let properties are amongst some of the most solid investments available at the moment.”
“Therefore, these new products, combined with our recent complete product refresh, two-minute DiP, free valuations and free title insurance, we expect to be a real help to intermediaries and their clients who are rushing to buy before the end of the stamp duty holiday.”