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.
Product Changes effective 08/01/2024
We have some good news! Products are coming down! Please see below & attached guides for more information. The products will go live on Monday on our system so please do not share this message until they are live.
Highlights:
- Rates cut across entire 5-year range by up to 0.46%
- Simplified range and removal of higher rate fees to reflect lower rates and increased affordability.
- Up to 55%, 65% and 75% LTVs available
- Variable fee structure ranging from 3% to 6% for added affordability.
- Max loan size up to £2m (subject to LTV)
- All 5-year products stressed at payrate
- Fixed fee products still available for lower loan sizes
Leading products:
- Standard 5-year fixed rate 75% LTV @ 4.49% with 6% fee (was 4.89%)
- Standard 5-year fixed rate 75% LTV @ 5.09% with 3% fee (was 5.49%)
- Standard 5-year fixed rate 55% LTV @ 4.39% with 6% fee (was 4.85%)
- Standard 5-year fixed rate 55% LTV @ 4.99% with 3% fee (was 5.45%)
Product Change Effective 11/01/2024
Here is a summary of the changes –
- Standard 2 Year Fixed Rates being reduced by 35bps;
- Small HMOs and MUFbs 2 year fixed being reduced by 40bps;
- Small HMOs and MUFbs 5 Year fixed rates being reduced by 25bps;
- First time landlords standard 2 Year fixed rates being reduced by 35bps;
- First time landlords standard 5 Year fixed rates being reduced by 20bps;
- Like for Like standard 2 Year fixed rates being reduced by 35bps;
- Trading Co. range being reduced by 25bps;
- Standard 2 Year trackers being increased by 0.05bps;
Products being removed –
- Removing 2 Year Standard and HMO/MUFB 4% fees tracker products (6 products)
- Removing 2 Year like for like tracker products (3 products)