Landbay are delighted to be bringing you their first product update of the year from Landbay with 5 year fixed rates from 4.49% at 75%, a 40bps reduction starting what will hopefully be a continual journey of rates heading downwards.
Our priority as a lender is to continually source competitively in the BTL market and these products, stressed at payrate, should prove very competitive.
A link to our calculator and product page is below.
https://landbay.co.uk/intermediaries/products-and-btl-calculator/
This won’t be the last you hear from us though as we are working on additional product options with our various funders and have some very exciting solutions up our sleeve.
As a reminder of the types of business we can accept and have seen frequently lately:
- Payrate stress test for 5 year fixed with 125% coverage for Ltd co and BRT (140% HRT)
- Consider market rent if higher than passing rent on stress tests
- Complex Ltd company structures and trading Ltd companies
- Minority shareholders (below 25%) ignored
- Cap raising for any legal purpose (excl HMRC & gambling debts)
- Large portfolio landlords stressed at 125% @ 5%
- Day 1 remortgages at market value
- Self-build development exits including complex lease creation / title splits
- Portfolio Incorporations
- Interfamily sales with gifted deposits
- HMO / MUFB for FTL (up to 12 bed/unit for experienced landlords)
- Property in and around commercial to 75%
- Ex-Local Authority & New Builds and high rise blocks to 75%
- Loans from £30k to £2m (can go higher with exception)
- Recent HMO Conversions with no license
- Short leases (55 years at end of term)
- Tracker products with 0% ERCs
I will get in touch individually over the coming weeks to see how we can work together this year, but if you’re thinking you and the team could use a refresher on our support and services please give me a call and we can put in a zoom – or an old fashioned get together over a coffee / pint.
If there are any cases you’d like to discuss, I’d be happy to see if we can help!
Hope you all have a wonderful and successful 2024!