Landbay has expanded its buy-to-let product transfer (PT) offering with the addition of both overpayment and additional borrowing options.

The enhancements mean that landlords can now access further funds as part of the PT process, allowing them to raise capital or fund property improvements without needing to remortgage. The additional borrowing feature can be requested at the outset of the PT application and is subject to criteria depending on the product selected.

Borrowers will also benefit from the ability to make overpayments during the product transfer, with the flexibility to do so right up until completion. These changes are expected to appeal to landlords looking for greater financial control and convenience when moving between products.

To further streamline the refinancing journey, Landbay has also integrated background portfolio uploads directly into the application system, simplifying the stress testing process for portfolio landlords.

Since its launch in February, Landbay’s PT offering has attracted considerable interest from brokers and landlords. The lender cites competitive rates, no legal fees, and eligibility across a wide range of property types – including houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) – as core drivers of demand.

Rob Stanton, sales and distribution director at Landbay, said: “From launch, we were clear that we would continue to develop our PT range to make sure it delivers as much value as possible. Adding both overpayments and additional borrowing is a clear example of this and an important next step. It means we can equip brokers with a product range that allows them to best serve their landlord clients as they come to refinance.

“Just as important, it gives brokers another reason to recommend Landbay at the outset – knowing full well the options are there to support borrowers and continue that relationship at the end of the initial term. It is great to be able to launch this new development which is a real testament to the capabilities of our in-house technology and broker platform, the talents of our team and the strength of our broad funding model.”