Landbay has released an intermediary update. Check their Product Guide or Lending Criteria for further details or visit their Broker Portal. You can access Landbay products, using the Brilliant Solutions direct to lender mortgage club and receive payment on completion. Contact us for further information.
Landbay rate reprice. New rates available on 7th July
Landbay will be updating its Buy-to-Let products on Wednesday 7th July. There will be a grace period for existing approved DIPs on the withdrawn products to be fully submitted, fees paid, and applications signed by midnight on Friday 8th July 2022.
If you have a case already fully submitted and for any reason you wish to change the rate brokers must notify us before midnight on Friday, the 8th of July. These requests must be notified by email and a supporting phone call (lines close at 5.30pm) to our telephone or underwriting team to ensure we can make the amendments there and then.
As a side note, any application in progress prior to the rate change, will progress at the original rate agreed, whether offered or not.
You can be assured our new rates will continue to be highly competitive.
We are committed to constantly reviewing our withdrawal processes to ensure there is minimal disruption to our brokers and their clients, we are taking this approach to protect our service commitments and to continue to offer excellent service.
Product withdrawal notice
We have updated our buy-to-let products today.
To secure the product and rate on applications already selected, ALL OF THE FOLLOWING must be actioned by 23:59 08/07/22:
- You have submitted the full mortgage application
- All applicants have accepted the application form
- The £175 application fee has been paid
Due to the volatility in rates and pressures on our SLAs, we could not provide as much notice as we would have liked. However, rest assured our new rates will continue to be highly competitive.
Any application before the rate change will progress at the agreed original rate, whether offered or not.
Please note that we are working hard to bring our service levels back to 48 hours. However, we are currently between 9 and 12 days to review new applications.