Landbay launches product range for non-portfolio landlords
Buy-to-let (BTL) lender Landbay has launched a range of products dedicated to non-portfolio landlords looking to invest in BTL properties.
The range is exclusively available to those with three or fewer buy-to-let properties.
Rates start from 3.14% for the 2-year fixed rate and 3.44% for the 5-year fixed rate; the range has a maximum 75% loan-to-value (LTV) and comes with a free valuation option for remortgages with a maximum loan size of £1m.
According to Landbay, the move reflects the fact that the volatility in the stock market – combined with the resilience in the housing market – has resulted in an increase in first-time landlords, a trend that is expected to continue in 2021.
Paul Brett, managing director of intermediaries at Landbay, said: “Now is a great time to invest in buy-to-let properties and demand in the buy-to-let sector is booming.
“Rent is increasing across the country, the stamp duty holiday is rumoured to be extended by three-months and house prices continue to rise.
“It is no surprise to see more and more first-time landlords looking to invest, and those with one or two properties looking to increase their portfolios.
“Adding these products to our already market-leading range will ensure we fully support this growing number of potential landlords.
“Combined with our new calculator, cutting-edge technology and exceptional service, our product range caters for every client, whether new to the sector, or purchasing their latest portfolio property.”