Landbay launches new range of lending products for professional landlords
Peer to pear lending platform Landbay which specialises in buy to let mortgages has launched a new range of limited edition lending products aimed primarily at professional landlords.
The new tracker products have a competitive rate, no Early Redemption Charges (ERCs) and will be available exclusively via Landbay’s approved broker partners, in addition to the existing suite of both Fixed and Tracker rate products.
All products are available to SPVs at the same rate as individual borrowers, and with no additional fees, through approved broker partners Atom, Brightstar, Complete fs, Mortgage for Business, Professional & Commercial, The Business Mortgage Company, and The Buy to Let Business.
‘Our new buy to let mortgage products have been specifically designed to serve the needs of the professional landlord and help brokers build on the opportunities afforded by a cut to the Bank of England’s base rate,’ said John Goodall, chief executive officer of Landbay.
‘We know that speed, accessibility and flexibility are crucial for brokers, especially in times of uncertainty or market turbulence, which is why we’ve removed Early Redemption Charges and continue to aim to give brokers a decision in principle within 48 hours,’ he added.
Landbay champions a bespoke, flexible and fast lending process, which it believes benefits borrowers in its speed of service and its competitive pricing. To date, Landbay has lent over £42 million since 2014, over 241 loans with 0% facing repayment difficulties. The new range of products aims to drive this due diligence and responsible approach, enabling Landbay to continue to grow as the boutique buy to let lender of choice.
Established in 2013, Landbay was the fastest growing online peer to peer lending platform in 2015. The investment platform is driven by peer to peer technology and backed by buy to let property, offering attractive returns and a double-lock of security to protect against losses.