Landbay has launched two new ‘large loan’ buy-to-let products with loan sizes of up to £2m.
The maximum loan size previously available was £1.5m.
Both of the new products are available on two and five-year fixed rates, at 65% LTV and come with the same rates as the existing equivalent 70% LTV products.
The two-year fixed rate product comes with a rate of 3.35% and the five-year fixed has a rate of 3.55%.
Paul Brett (pictured), 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.”