Landbay has announced a refresh of its core product range to respond to high demand.
Despite the high levels of demand, the specialist buy-to-let (BTL) lender said it is conducting all business within its service level agreement, with most offers being issued within 72 hours.
As part of the changes, Landbay has introduced a free valuation on its five-year fixed rate mortgage and reduced the rate from 3.69% to 3.65%. The mortgage is available up to 75% LTV on properties up to £700,000.
The lender has also expanded its range by introducing new 70% LTV products while keeping rates the same as they were at 60% LTV, and Landbay has also announced reductions to rates on houses in multiple occupation and multi-unit freehold block products.
“Over the past month we’ve seen unprecedented demand from brokers and their clients,” said Landbay managing director of intermediaries, Paul Brett. “We are always listening to what the market is telling us and as a result we have relaunched our whole product range with lower rates.
“We know this refresh will be greatly welcomed and we anticipate it will continue to grow the exceptional levels of activity that we’ve seen. Despite the high demand, we’re committed to providing excellent customer service that our intermediary partners deserve.
“Our application process is completely paperless and online, therefore we don’t have any delays in the reviewing of post, because we don’t have any.”
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