PARADIGM Mortgage Services and SimplyBiz Mortgages have both added specialist buy-to-let lender Landbay Partners to their mortgage panels to help serve “niche” BTL markets.
Paradigm member firms are now able to access Landbay’s lending solutions for landlords in a number of buy-to-let sectors.
Meanwhile, SimplyBiz Mortgages has also announced that Landbay has joined its lender panel, giving members access to its products with immediate effect.
Landbay offers mortgages to less experienced landlords, expat and self-employed borrowers, and those owning houses in multiple occupation (HMO).
It lends to both limited companies and limited liability partnerships, as well as trading businesses. It considers first-time landlords, subject to minimum income of £85,000, and first-time HMO landlords, as long as they have two years’ prior experience.
Landbay also offers finance on new-build flats, flats above commercial properties, student lets and ex-local authority flats.
Read more: Landbay set for record £10m month of lending
Rates currently begin at 3.55 per cent for standard two-year fixed-rate products, 3.69 per cent for a five-year fix, 3.79 per cent for a two-year HMO/MUFB fixed rate, and 4.25 per cent for a two-year expat product.
“With a highly-experienced team operating with an innovative, technology-enabled approach to lending, Landbay is able to look at individual, often complex, cases and provide a product solution for advisers and their clients,” said John Coffield, head of Paradigm Mortgage Services.
“Landbay is dedicated to delivering a quality service with advisers able to speak directly to its underwriters.
“It is highly encouraging to see lenders like Landbay continuing to show a strong commitment to the sector whilst offering an approach which focuses on the changing needs of landlord clients.”
Read more: Landbay raises more than £2.4m on Seedrs
Martin Reynolds, chief executive of SimplyBiz Mortgages, said that the breadth of options needed to adequately service clients has expanded in the last few years, due to changes in the buy-to-let market.
“The addition of Landbay to our panel provides our members with increased opportunities to help their clients,” he added. “The niche buy-to-let markets are still underserved, but Landbay is helping to increase choice.”