Additionally, Landbay has also lowered the rates on its 80% LTV mortgages which now start at 3.79%.
The lender announced that it has introduced a new large loan product, with a £750 cashback, maximum £1.5m loan, up to 70% LTV at 3.49%, on a five-year fixed rate. Meanwhile, its standard two-year fixed rate products start from 2.95%, and the five-year fixed rate products start from 3.34%. It also offers a range of free valuation products across its standard two and five-year products for remortgages.
In addition to the standard and large loan products, Landbay has launched an improved HMO special edition range, enhancing rates and criteria on HMOs to 6 bedrooms. Rates now start at 3.35%.
Paul Brett, managing director of intermediaries at Landbay, said: “Despite the stamp duty holiday deadline looming on the horizon, the start of the year has seen a tremendous demand for buy-to-let. Rents continue to rise and Rightmove reports that demand for rental property is up 20%. All of this means that buy-to-let remains a solid medium-term investment and many intermediaries will also be seeing an increase in demand from their landlord clients, particularly those with portfolios.
“To meet this rising demand, we have completely refreshed our range and improved our already market-leading offering. Our range now includes products with free valuations, free title insurance, cashback options and special HMO products, so we have a product to fit almost every client’s needs.”
