UK buy-to-let lender Landbay has joined the network panel of Commercial Finance Brokers UK (CFBUK).
CFBUK is a whole of market commercial finance broker providing services to professional introducers through its relationship with residential mortgage broker networks.
Through its FCA approved ‘Dual Appointed Representative Proposition’, CFBUK has also established its own network of appointed representative commercial finance brokers throughout the UK.
The partnership will allow Landbay to provide mortgages for large houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) at rates usually only seen on residential mortgages. CFBUK members will also be able to access lower fees.
This marks the second network partnership Landbay has agreed in under a month, with the lender providing an increasing number of buy-to-let solutions to commercial finance brokers who are looking for lower interest rates and lower fees for their portfolio landlord customers.
Landbay’s large HMO mortgages will be available for buildings with between six and 12 rooms, as well as student lets. It will also provide ‘day one buy-to-let remortgages’ for borrowers exiting a bridging loan.
CFBUK members will be able to offer their clients’ access to Landbay’s free title indemnity insurance. What’s more, introducers will be able to take advantage of Landbay’s instant decision in principle and paperless end-to-end system, while also benefiting from direct access to underwriters.
Paul Brett, managing director of intermediaries at Landbay, says: “With speed of the essence at the moment we are bringing our competitive range of buy-to-let mortgages to CFBUK, a brokerage and network that truly understands the need for tailored underwriting combined with speed to offer.”
“CFBUK is an outstanding network for commercial finance and specialist and larger buy-to-let mortgages and we are pleased to provide our highly competitive range of products combined with low fees to its introducers and members.”
Karl Mallett, managing director of Commercial Finance Brokers UK, adds: “Service times are a real issue with many lenders at the moment - but not with Landbay. Its rates and service are exemplary, at the same time offering direct access to both its BDM team and its underwriters.”
“Lanbay rates are highly competitive and the flexibility it offers in terms of the broad range of buy-to-let properties it will lend on will be a real asset to our clients, introducers and network members.”