Landbay expands product criteria for BTL landlords

Landbay has enhanced and expanded its product criteria for buy-to-let landlords.

The lender has increased its maximum loan size from £1m to £1.5m, with a maximum loan-to-value (LTV) of 75% including fees.

All products are available through the specialist buy-to-let mortgage lender’s approved distributor partners, including Legal and General Mortgage Club, Sesame Network, and PMS Mortgage Club.

Paul Brett, managing director of intermediaries at Landbay, said: “We are constantly listening to our intermediary partners and to the requirements of the market, and we believe these changes will offer a greater offering and flexibility to brokers and their landlords.

“These new criteria offer a fantastic opportunity for brokers to help more of their landlord clients, who need specialist advice and products more than ever after two years of significant regulatory and fiscal change.

“The increased loan size and aggregate loans will allow us to remain competitive and meet the needs of a wider variety of cases.”

To further support borrowers, the company has also launched its new website, designed to offer a seamless and streamlined journey for both investors and brokers alike.

As part of the new website, an online chat function has been introduced for intermediaries, which enables them to talk directly with the underwriting team about cases.

Brett added: “We hope the new look website is now more informative and accessible for all of our audiences including investors, borrowers and institutions.

“By bringing everything together under one roof we hope to improve the user journey and experience. We have also expanded our online chat function so that brokers can access the information they require with greater ease and efficiency.”

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