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Landbay launches small portfolio landlord mortgages

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  • 03/03/2021
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Landbay launches small portfolio landlord mortgages
Landbay has launched a range of mortgages for landlords with three or fewer buy-to-let properties.

 

The range is designed to support the increasing number of first-time landlords and those early investors looking to build their portfolio, the lender said.

It noted stock market volatility and a resilient housing market had seen an increase in first-time landlords which it expects to continue this year.

Rates on the products start from 3.14 per cent for the two-year fix and 3.44 per cent for the five-year version. The range has a maximum 75 per cent loan to value (LTV) and comes with a free valuation option for remortgages with a maximum loan size of £1m.

Paul Brett, managing director of intermediaries at Landbay, said the lender was keen to support the growing number of potential landlords.

“Now is a great time to invest in buy-to-let properties and demand in the buy-to-let sector is booming,” he said.

“Rent is increasing across the country, the stamp duty holiday is rumoured to be extended by three-months and house prices continue to rise.

“It is no surprise to see more and more first-time landlords looking to invest, and those with one or two properties looking to increase their portfolios.”

 

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