Landlords who want to lock in a rate for two years can secure a fix of 4.19% for a fee of 5% or choose a lower 3% fee for 5.19%. Two five-year fixed holiday let mortgage rates are also available with the same fee options, priced at 5.29% and 5.69% respectively.
Loan sizes will range between £100,000 and £1m, with up to five properties allowed.
BTL redesign
Alongside the holiday let mortgage launch, Landbay has also redesigned its buy-to-let (BTL) products into three new product sets: Premier, Core and Specialist.
The Premier set consists of standard products for landlords with up to 15 properties in limited company special purpose vehicles (SPVs).
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The lender’s Core set offers lending solutions for portfolio landlords, including options for limited company structures, as well as access to Landbay’s automated valuation model (AVM) products.
The Specialist set of deals will offer extra flexibility for more specialised properties – including holiday lets, houses of multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and trading companies.
Each set has product transfer options.
Rob Stanton, sales and distribution director at Landbay, said: “Holiday lets are an area of interest for many landlords – particularly with the long-term growth of the staycation market.
“By launching this dedicated suite of products, we are giving brokers and their borrower clients straightforward access to products that have been designed with the quirks of holiday letting in mind. Competitive rates, clear criteria and flexible loan sizes mean we can support landlords looking to diversify their portfolios.”
