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Landbay launches new loan products for small homeowners

Landbay today launched two new products in its catalog for owners of three or fewer properties.

The first is a 2-year fixed rate at 2.85 percent up to 65 percent loan-to-value (LTV), available on loans up to £ 1.5million.

The second is a 5-year fixed rate at 3.25% up to 65% LTV, also available on loans worth up to £ 1.5million.

In addition, the lender lowers the existing rates on some of its products. The fixed rates of 75% LTV (excluding portfolio) at 2 and 5 years will be:

  • 2-year fixed rate – 2.95% up to 75% LTV, vs. 3.14% – 1.75% fees and a free assessment
  • 5-year fixed rate – 3.35% up to 75% LTV, vs. 3.39% – 1.75% fee and a free appraisal
  • 2-year fixed rate – 2.95% up to 75% LTV, vs. 3.14% – 1.5% fee
  • Fixed rate over 5 years – 3.35% up to 75% LTV, compared to 3.39% – 1.5% fee

These products are only available on standard properties and can be purchased by public limited companies as well as by individuals.

Paul Brett, Managing Director of Intermediaries at Landbay, said: “The rental market is thriving and we have maintained our position at the forefront of this flourishing industry during the pandemic. We were one of the few lenders who continued to lend throughout the foreclosure, during which we were able to keep our turnaround times fast.

He added: “These rates continue to solidify Landbay’s leading position as a specialist buying and leasing lender, and I am sure there are many brokers who will be relieved to be able to offer their clients larger loans that provide additional flexibility.

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