Landbay unveils large loan buy-to-lets

UK buy-to-let lender Landbay has launched two ‘large loan’ buy-to-let products with loan sizes of up to £2m, an increase from £1.5m.

The products are 2 and 5-year fixed rates to 65% LTV, a 2-year fix at 3.35% and a 5-year fix at 3.55%. These are the same rates as the equivalent 70% LTV products.

This follows news that Landbay has signed up with an asset manager to fund in excess of £300m of mortgages per year.

Paul Brett, managing director of Intermediaries at Landbay, said: “The higher £2m loan threshold will be music to the ears of intermediaries whose clients are looking for larger properties in more expensive areas.

“These new ‘large loan’ products complement the rest of the product range and thanks to our new funder, will allow Landbay to support more intermediaries and their clients.

“Overall, the buy-to-let market remains robust with recent reports showing increases in rents across the UK, particularly in rural areas. As the housing ladder still is inaccessible for many people, the rental market remains a solid investment.”

Landbay is issuing offers within 72 hours.