Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
Landbay Unveils Five New Product Transfer Tracker Mortgages
Landbay has launched five new product transfer tracker products within its core and specialist ranges. The new offerings include options for portfolio landlords, individuals, limited company structures, and specialist properties such as HMOs and MUFBs.
Within the core range, Landbay has introduced three two-year tracker product transfer products. These include a 65% loan-to-value (LTV) product with a 3% fee at bank base rate (BBR) plus 1.49%, and two 75% LTV products—one with a 2% fee at BBR plus 2.24%, and another with a 3% fee at BBR plus 1.74%.
In the specialist range, the lender has launched a 75% LTV small HMO product with a 3% fee at BBR plus 1.74%, and a small MUFB product, also up to 75% LTV, with a 3% fee and a rate of BBR plus 1.74%.
Landbay states that the launch of these new tracker products is in response to increased broker and landlord client interest. The products are designed to offer flexibility, particularly for those managing portfolios or specialist property types.
For letting agents and inventory clerks, these new tracker options may be relevant for clients seeking refinancing solutions or greater flexibility in their buy-to-let mortgage arrangements, especially for HMOs and MUFBs.
Source: Mortgage Strategy