Buy-to-let lender, Landbay, has increased its maximum loan to value (LTV) from 75% to 80%.
It has launched two new buy-to-let products which available on standard properties, mean Landbay is now back at pre-lockdown LTV levels with very competitive interest rates.
The new products are available on two and five-year fixed rates. The two-year fixed rate product comes with a rate of 3.79% and the five-year fixed has a rate of 3.99%. The rates are available for loans from £100,000 up to £750,000.
Paul Brett, managing director of intermediaries at Landbay, said: “Intermediaries and property investors have been crying out for higher LTV buy-to-let products and so the increase of our LTVs to 80% at market leading rates should be incredibly welcome. This increase in our maximum LTV, along with free Title Indemnity Insurance and free valuations, means we now have a product range which exceeds many others in the market.
“These new products will be very positive news to intermediaries, enabling their clients to increase their portfolios in time to take advantage of the stamp duty holiday. However, time will be of the essence and lender service standards will be everything over the next few weeks.
“As we edge closer to the stamp duty deadline, it will be more and more important that intermediaries look to work with lenders like Landbay, who have continuously kept to their SLAs and who have systems in place to ensure they can process applications quickly and efficiently.”