LANDBAY has unveiled a new-look website to coincide with the launch of a newly expanded product criteria for professional landlords.
The buy-to-let mortgage lender has increased its maximum loan size from £1m to £1.5m, with a maximum loan-to-value (LTV) of 75 per cent including fees. The aggregate loan limit has also been increased from £2m to £5m.
These changes come amid a “brand evolution” for the company, which aims to “create a single proposition, for both P2P investors and intermediaries, to modernise mortgage lending”.
The new website is now live, and the increased lending limits are active as of today.
“We hope the new look website is now more informative and accessible for all of our audiences including investors, borrowers and institutions,” said Paul Brett, managing director of intermediaries at Landbay.
“By bringing everything together under one roof we hope to improve the user journey and experience. We have also expanded our online chat function so that brokers can access the information they require with greater ease and efficiency.”
All products are currently available through Landbay’s approved distributor partners, including the recent additions of Legal and General Mortgage Club, Sesame Network, and PMS Mortgage Club.
“We are constantly listening to our intermediary partners and to the requirements of the market, and we believe these changes will offer a greater offering and flexibility to brokers and their landlords,” added Brett.
“These new criteria offer a fantastic opportunity for brokers to help more of their landlord clients, who need specialist advice and products more than ever after two years of significant regulatory and fiscal change. The increased loan size and aggregate loans will allow us to remain competitive and meet the needs of a wider variety of cases.”
Earlier this year, Landbay surpassed £180m of mortgages funded to date with no arrears.