Landbay has launched a new range of products aimed at non-portfolio landlords looking to invest in buy-to-let (BTL) properties.
The BTL lender confirmed its new range is exclusively available to those with three or fewer BTL properties.
Rates on the products start from 3.14% for a two-year fixed rate and 3.44% for a five-year fixed rate. The range has a maximum 75% LTV and comes with a free valuation option for remortgages, with a maximum loan size of £1m.
Landbay suggested volatility in the stock market, combined with resilience in the housing market, has resulted in an increase in first-time landlords – a trend the lender is expecting to continue in 2021.
“Now is a great time to invest in BTL properties and demand in the BTL sector is booming,” commented Landbay managing director of intermediaries, Paul Brett. “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.”
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