Landbay has launched a new range of two-year and five-year products, available through an automated valuation model (AVM).
The new AVM range includes two-year standard options available at up to 75% loan to value (LTV), with rates starting at 3.74%.
Non-portfolio landlords with three or less mortgaged properties can access five-year standard products, also available at up to 75% LTV, with rates beginning at 4.29%. All products are available using Landbay’s variable fee structure for enhanced affordability.
By integrating AVMs, Landbay can also offer a saving of on average £500 by removing the need to pay valuation fees.
New AVM range includes:
- 2-year Standard AVM 75% LTV rates from 3.79%
- 2-year Standard AVM 70% LTV rates from 3.74%
- 5-year Non-Portfolio Standard AVM 75% LTV rates from 4.54%
- 5-year Non-Portfolio Standard AVM 70% LTV rates from 4.29%
- All products come with a £249 application fee
Rob Stanton, sales and distribution director at Landbay, said: “We’ve seen firsthand just how AVMs can transform the buy-to-let mortgage process, helping us to enhance our offering and deliver a faster service at a reduced cost. Given how timing can make or break a deal in such a changeable market, this is absolutely critical and hugely valuable. We’re thrilled to help our broker partners to support their landlord clients with this innovative product range.
“This latest launch only further proves our commitment to product innovation, staying close to the market and working collaboratively with funders to deliver a competitive range of products. Through this approach, we remain incredibly agile and able to help our broker clients meet a broad range of landlord requirements.”
