It includes two- and five-year fixed rates up to 75% loan to value (LTV) for landlords purchasing or remortgaging standard residential investment properties.
Products extended to Scotland include Landbay’s core automated valuation model (AVM) two-year fixed rates, starting from 4.74% with a 5% fee, alongside a 5.74% option with a 3% fee. Further, five-year core AVM fixed rates are available from 5.64% with a 6% fee and 5.84% with a 5% fee.
Landbay’s Core range also provides access to finance for landlords with special purpose vehicle (SPV) company structures and has no portfolio limit.
Rob Stanton, sales and distribution director at Landbay, said the launch of Core built on the lender’s introduction of its Premier range in Scotland in March, extending the product and lending options available to advisers.
“While Premier continues to provide options for landlords with more straightforward borrowing needs, Core gives us the ability to cater for those portfolio players, including those with more complex SPV structures and different requirements when it comes to product fees and mortgage terms,” he said.
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He added that the inclusion of AVM products would provide further options for eligible purchase and remortgage cases.
Stanton said Landbay recognised Scotland as a “distinct market with its own requirements” and had taken a considered approach to expanding its offering. He added that having Premier and Core available alongside each other would give Scottish advisers and their landlord clients greater choice.
