Landbay boosts buy-to-let range with new zero-fee products

By Bridging Loan Directory 20th February 2024

Buy-to-let lender Landbay has expanded its product range with the introduction of two new five-year fixed-rate products, available with no product fees.

The first is a standard five-year fixed rate product at 5.69%, which is available at 75% loan-to-value (LTV) and with maximum loan size of £1.5 million.

The second is an addition to Landbay’s new range of products utilising automated valuation models (AVMs).

It is a standard five-year fixed rate product also at 5.69%, which is available at 70% LTV with a maximum property value of £750,000.

The five-year product joins the new standalone range of AVM products, with rates starting at 4.29%.

Both new products are now live and can accommodate a minimum loan size of £65,000.

The new zero-fee options join Landbay’s existing variable fee structure for enhanced flexibility and affordability.

All products are now available for intermediaries to view and compare using its buy-to-let affordability calculator.

Rob Stanton, sales and distribution director at Landbay, said:

“We pride ourselves on our ability to respond quickly to opportunities to expand and enhance our product range.

It’s all part of our commitment to our broker partners to provide a product range that is broad and diverse enough to meet the requirements of their landlord clients across the country.

While the rate may not be suitable for every client, it will certainly work for those with no appetite for fees or those borrowers with higher-yielding properties.

As affordability continues to improve, we’re thrilled to offer landlords two superb zero-fee options, including our latest addition to the AVM product range.

This range has been met with outstanding feedback from our intermediary partners, further enhancing our commitment to providing valuable solutions in the property market.”