View more on these topics

Landbay launches three new professional landlord products

Rental-Contract-Pen-Paperwork-Mortgage-700.jpg

Landbay has launched three new buy-to-let products aimed at expats, professional landlords and those with HMOs.

The new tracker products will be sold through Landbay’s broker partners. These are Atom, Brightstar, Complete FS, Connect Mortgages, Mortgages for Business, The Business Mortgage Company and The Buy to Let Business.

The expat term tracker is at 4.38 per cent to 75 per cent LTV. The interest coverage ratio is 135 per cent at 4.38 per cent and the early repayment charge is 2 per cent for two years.

The new professional landlord product is a standard term tracker at 3.88 per cent to 75 per cent LTV.

The interest coverage ratio is 125 per cent at 3.88 per cent, with no early repayment charges.

The HMO product is at 3.98 per cent to 75 per cent LTV. The ICR is 130 per cent at 3.98 per cent, with no early repayment charge.

Landbay has also changed its criteria to require a minimum income (from all sources) of £25,000 for those employed, or the equivalent of £40,000 from expats.

Its minimum property values are £80,000 for standard properties and £150,000 for HMOs.

Landbay chief lending officer Paul Clampin says: “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.”

Recommended

2

Landlords step up anti-tax drive with postcard campaign

The National Landlords Association (NLA) has launched an e-postcard campaign to lobby Government over the proposed removal of mortgage interest relief, ahead of the Autumn Statement later this month. The NLA wants landlords to send one of two e-postcards to the Chancellor and the Treasury to campaign against the changes which it dubs a “Tenant […]

Comment: Limiting the BTL tax damage

The benefits are substantial for landlords who operate as a limited company, although this won’t be suitable for everyone Landlords scrambled to buy property before former chancellor George Osborne’s costly new stamp duty charges on buy-to-lets came into force in April. Since then, the market has slowed considerably. However, little by little, landlords are returning […]

Comment: Introduce awareness of BTL deals

There seems to be a lack of awareness among introducers of the products offered by certain specialist buy-to-let lenders The Prudential Regulation Authority’s changes to affordability rules on buy-to-let are just under two months away. After a year in which landlords have also been battered by the chancellor on stamp duty and withdrawal of mortgage […]

Spring has sprung

Well, it’s been lovely to see a little bit of sunshine, even if it was only a brief appearance. I live in Scotland so, believe me, it was very brief.  Of course, with even the tiniest hint of spring, thoughts turn to the inevitable clearout that must take place.  And that got me to thinking […]

Newsletter

News and expert analysis straight to your inbox

Sign up