Changes include the addition of fees to 80% LTV products, while across all revised standard 80% LTV products, fees can now also be added.
The buy-to-let lender’s standard five-year 80% LTV product rate is now 3.89% and across the wider product range minimum landlord income has been reduced to £15,000, the minimum loan value has been cut from £50,000 to £30,000 and the minimum property value has been reduced to £75,000 for standard properties and HMOs in qualifying areas.
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Landbay’s maximum standard property loan amount has increased to £2m for up to 75% LTV products.
The reworked products will be available to BTL landlords through the lender’s intermediary partners.
Paul Brett, managing director of intermediaries at Landbay (pictured above), said: “We are constantly working to improve and update the products we already have, as well as working to develop new ones.
“It is critical for us to be keeping our ear to the ground of the BTL marketplace, and today’s product revamp will ensure that our customers can take advantage of the competitive propositions we have to offer.”
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