Landbay has announced it is increasing its buy-to-let (BTL) LTVs from 75% to 80% with the launch of two new BTL products.
The lender revealed that the new products, available on standard properties, will be available on two and five-year fixed rates.
The two-year fixed rate product comes with a rate of 3.79% and the five-year product has a rate of 3.99%, with rates available for loans from £100,000 to £750,000, Landbay confirmed.
“Intermediaries and property investors have been crying out for higher LTV BTL products and so the increase of our LTVs to 80% at market leading rates should be incredibly welcome,” commented Landbay managing director of intermediaries, Paul Brett.
“These new products will be very positive news to intermediaries, enabling their clients to increase their portfolios in time to take advantage of the stamp duty holiday. However, time will be of the essence and lender service standards will be everything over the next few weeks.”
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