Buy-to-let lender Landbay has expanded its product range with the introduction of two five-year fixed-rate products, available with no product fees.
The first is a standard five-year fixed rate product at 5.69%, which is available at 75% loan-to-value (LTV) and with maximum loan size of £1.5m.
The second is an addition to Landbay’s new range of products using automated valuation models (AVMs). It is a standard five-year fixed rate product also at 5.69%, which is available at 70% LTV with a maximum property value of £750,000. The five-year product joins the new standalone range of AVM products, with rates starting at 4.29%.
Both products are now live and can accommodate a minimum loan size of £65,000.
Landbay sales and distribution director Rob Stanton commented “We pride ourselves on our ability to respond quickly to opportunities to expand and enhance our product range.
He added: “It’s all part of our commitment to our broker partners to provide a product range that is broad and diverse enough to meet the requirements of their landlord clients across the country. While the rate may not be suitable for every client, it will certainly work for those with no appetite for fees or those borrowers with higher-yielding properties”.
