Landbay has launched two large loan buy-to-let products, with loan sizes up to £2m.
Previously the maximum loan size available was £1.5million.
The products are a 65% LTV 2-year fix at 3.35%, and a 65% LTV 5-year fix at 3.55%,
Landbay agrees funding deal with asset manager
Landbay recently increased its funding for BTL mortgages to three separate steams. It outlined that this has enabled Landbay to refresh its entire product range.
Furthermore, the lender detailed that it is conducting all business, within its service level agreement with offers being issued within 72 hours.
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.”