Landbay, the buy-to-let lender, is now offering a five-year, fixed rate BTL product range, for loans of up to £1.5m. These are for standard properties, HMOs, MUFBs and trading companies.
For standard properties, there is a 3.24% rate at 75% LTV for loans up to £1.5m, for small HMO and MUFB properties a 3.59% rate and for small portfolio landlord standard properties, a rate of 3.14%.
Landbay is now offering two new build standard property mortgages, at 65% LTV up to £1.5m at 3.24% and at 75% LTV up to £1m at 3.34%. For new build small HMOs and MUFBs, there is a product at 75% LTV with a rate of 3.69%.
The lender has also raised maximum loan sizes to £1.5m on 3 five-year fixed rate products at 75%, including a 3.99% mortgage for large HMOs and MUFBs.
Paul Brett, managing director, intermediaries at Landbay, said: “We are seeing more landlords wanting larger loans particularly for investment in HMOs and MUFBs,”
“They tend to be professional landlords with growing portfolios who want to invest in larger properties.
“There has also been an increase in trading limited companies investing in HMO and MUFBs. This type of accommodation attracts higher yields for landlords and even if there are vacancies within the property there is always income from the other tenants.”
Original article featured here…
Landbay recently published a blog on its website, predicting that BTL property demand will offset any impact felt by the stamp duty holiday ending.