Landbay, the buy-to-let lender, has announced a new range of BTL products. This is designed to cater for trading limited companies that are purchasing or remortgaging HMOs, MUFBs and standard properties.
The LTVs on large HMOs and MUFBs (up to 12 units or beds) has been increased to 75%. The lender has also withdrawn limits on the number on floors in a property that it lends on.
Paul Brett, managing director of intermediaries at Landbay, said: “As one of the few lenders catering for trading limited companies, brokers now have more choice when advising company directors, who do not specialise in property.
“If small companies have surplus profits, buying property to let can be a tax efficient investment.
“Our appetite for lending has been boosted by our new £1bn funding source over five years from our new friends and partners, Allica Bank, which we announced last week.
“We are having a tremendous year across the business and I believe there are even more exciting times ahead for us.”
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Landbay’s partnership with Allica Bank, the challenger bank, will fund BTL mortgages for the next five years.