Landbay has launched a range of buy-to-let (BTL) products for trading limited companies purchasing or remortgaging standard properties, houses in multiple occupation (HMOs) and multi-purpose freehold blocks (MUFBs).
Landbay has also increased loan-to-values (LTVs) on large HMOs and MUFBs, up to 12 beds or units, to 75%, up from 70%.
There is now no limit on the number of floors in a property that Landbay will lend on.
Leeds reduces interest cover ratio for BTL borrowers
Paul Brett, managing director of intermediaries at Landbay, said: “As one of the few lenders catering for trading limited companies, brokers now have more choice when advising company directors, who do not specialise in property.
“If small companies have surplus profits, buying property to let can be a tax efficient investment.
“Our appetite for lending has been boosted by our new £1bn funding source over five years from our new friends and partners, Allica Bank, which we announced last week.
“We are having a tremendous year across the business and I believe there are even more exciting times ahead for us.”
