Landbay increases LTV to 80% for BTL
Landbay has increased its maximum LTV for buy-to-let products from 75% to 80% with the launch of two offerings.
The products, which are available on standard properties, include a 2-year fix at 3.79% and a 5-year fix at 3.99%.
The products are available for loans from £100,000 up to £750,000.
Furthermore, Landbay outlined that it is conducting all business within its service level agreement and provides an instant decision in principle.
Paul Brett, managing director of Intermediaries at Landbay, said, “Intermediaries and property investors have been crying out for higher LTV buy-to-let products and so the increase of our LTVs to 80% at market leading rates should be incredibly welcome.
“This increase in our maximum LTV, along with free Title Indemnity Insurance and free valuations, means we now have a product range which exceeds many others in the market.
“These new products will be very positive news to intermediaries, enabling their clients to increase their portfolios in time to take advantage of the stamp duty holiday.
“However, time will be of the essence and lender service standards will be everything over the next few weeks.
“As we edge closer to the stamp duty deadline, it will be more and more important that intermediaries look to work with lenders like Landbay, who have continuously kept to their SLAs and who have systems in place to ensure they can process applications quickly and efficiently.”