Landbay Update

Why PT matter in today’s BTL Market

Refinancing has become a crucial aspect of managing a buy-to-let portfolio, particularly in a landscape shaped by rising costs, tighter regulation, and shifting economic conditions. Traditionally, for many landlords, especially those operating in the specialist sector, refinancing has meant undergoing a full remortgage process. While this approach has its place, it can be time-consuming, paperwork-heavy, and expensive.

As the market adapts, so too does the approach to refinancing. Product transfers are increasingly emerging as a more efficient and cost-effective option. By switching to a new mortgage product with the same lender, landlords can bypass the need for a full remortgage. This route has historically been underused in the specialist buy-to-let sector, often seen as too restrictive. But in the current economic environment, where affordability checks are tighter and the pressure on portfolios is greater, product transfers offer a practical and timely solution.

For landlords, the appeal lies in a smoother experience. The process involves less paperwork and can be completed in a shorter time frame. Costs are generally lower, too, since legal work and new valuations are typically not required. Most importantly, landlords benefit from staying with their current lender, which ensures continuity of service and eliminates the need to re-establish their case from scratch. The avoidance of new affordability assessments also makes this an attractive route for those whose circumstances may have shifted since their original application.

Brokers also benefit from product transfers. The process helps to retain clients and creates a smoother journey for both parties. With fewer barriers and quicker turnaround times, brokers can deliver a better service while building longer-term relationships with their landlord clients.

Product transfers have also become more flexible. Where they were once fairly limited in scope, lenders have adapted to meet the evolving needs of landlords. At Landbay, for instance, landlords now have the option to request additional borrowing as part of the product transfer. This allows them to raise funds for renovations, property improvements or further investments without the disruption of moving to a new lender. By including additional borrowing at the outset, the process is clear and straightforward.

Another increasingly valued feature is the ability to make overpayments. This gives landlords greater control over their finances, whether they want to reduce their interest costs or accelerate mortgage repayment. Overpayments can be made throughout the product transfer journey, including up to the point of completion, supporting more proactive portfolio management.

Of course, none of this is possible without the right technology. For product transfers to deliver on their potential, the process must be digital, efficient and reliable. At Landbay, our ongoing investment in technology has enabled us to provide a seamless experience for both brokers and borrowers. From digital applications and automated decisions to integrated portfolio uploads, each improvement helps reduce processing times and enhance accuracy, ultimately removing friction from the process.

For brokers, while product pricing and initial service levels will always be important, it’s worth looking more broadly at what lenders offer beyond the first transaction. The ability to access additional borrowing, make overpayments, and benefit from a streamlined and digital product transfer process should all be considered. These factors not only strengthen the value of the initial recommendation but also support longer-term client relationships.

To find out more about how Landbay’s product transfers could support your next case, get in touch with your local BDM.