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 Reprice & New Products
Landbay has updated its product offering today, please see below:
- Products not changing:
- 5x Tracker products, 2x Standard 1 & 2 year fixed 75% LTV, and 4x Small HMO/MUFB 1 & 2 year fixed 75% LTV
- Products changing:
- 0.20% rate reduction on 3x Standard 5 year fixed 75% LTV with 4%, 3% and 2% fee, plus max loan going down from £1.5m to £1m
- 0.25% rate reduction on 2x Large HMO/MUFB 2 year fixed 75% LTV with fee increasing from 2% to 2.5%
- 0.20% rate reduction on 2x Large HMO/MUFB 5 year fixed 75% LTV
- 0.20% rate reduction on 2x Small HMO/MUFB 5 year fixed 75% LTV with fee increasing from 1.75% to 2%
- New products:
- 3x Trading co Standard, HMO/MUFB 5 year fixed 75% LTV
- 2x Green Standard 5 year fixed 75% and 65% LTV
- 3x Standard 5 year fixed 65% LTV with 2% and 3% fee and 75% LTV with £1,499 fixed fee
- 2x Small HMO/MUFB 5 year fixed 65% LTV
- 2x Large HMO/MUFB 5 year fixed 65% LTV
- The old products were pulled on Tuesday at midnight – they are no longer selectable in the broker portal
- Anyone who had selected the product before midnight on Tuesday, has until midnight tomorrow Tuesday to submit their application, accept the app form and pay the admin fee to secure the product
- Although the rates are decreasing so there is no incentive to secure them, there could be incentives to secure certain products given some product fee increases and changes of loan amount restrictions