Landbay launches expat and HMO products
Peer-to-peer lending platform Landbay has launched three new products aimed at professional landlords with HMO’s and for expats.
The range include a standard term tracker at 3.88%, a HMO/MUFB term tracker at 3.98% and a expat term tracker at 4.38%. All three have a max loan-to-value of 75%.
In addition, Landbay has changed it criteria to require a minimum income (from all sources) of £25,000 for employed (£40,000 equivalent from ex pats). Its minimum property values are £80,000 for standard properties and £150,000 for HMO’s.
Paul Clampin, chief lending officer of Landbay, said: “Our new buy-to-let mortgage products have been specifically designed to serve the needs of the professional landlord and help brokers build on the opportunities currently within the market. Landbay prides itself in design products and a fast service crucial for brokers.”
All products are available through Landbay’s approved broker partners: Atom, Brightstar, Complete fs, Connect Mortgages, Mortgage for Business, The Business Mortgage Company, The Buy to Let Business.