Landbay has launched a new suite of holiday let mortgages as the lender looks to support landlords diversifying into the staycation market.
The buy-to-let lender has introduced four fixed-rate products, all available up to 75% LTV. These include a two-year fix at 4.19% with a 5% fee and an alternative two-year fix at 5.19% with a 3% fee.
For those seeking longer-term certainty, a five-year fixed at 5.29% with a 5% fee is available, alongside a 5.69% option with a 3% fee. Loan sizes range from £100,000 to £1 million, with a maximum of five properties allowed.
Rob Stanton, sales and distribution director at Landbay, said: “Holiday lets are an area of interest for many landlords – particularly with the long-term growth of the staycation market.
“By launching this dedicated suite of products, we are giving brokers and their borrower clients straightforward access to products that have been designed with the quirks of holiday letting in mind.
“Competitive rates, clear criteria and flexible loan sizes mean we can support landlords looking to diversify their portfolios.”
Alongside the new range, Landbay has also restructured its wider buy-to-let offering into three product sets. Its Premier set covers standard products for landlords with up to 15 properties in limited company SPVs.
The Core set is aimed at portfolio landlords and includes access to automated valuation models.
The Specialist set will provide finance for more complex cases, such as holiday lets, HMOs, MUFBs and trading companies. Each set will include a corresponding range of product transfers.
Stanton added: “We’ve taken the opportunity to simplify our wider buy-to-let range into three clear product sets – Premier, Core and Specialist. This makes it easier for brokers to navigate our offering and quickly find the right solution for their landlord clients.
“Whether it’s a straightforward limited company application, a large portfolio case or a more complex property such as a holiday let or an HMO, our new structure will make the process faster, simpler and more transparent.”
Landbay has also reduced pricing within its Premier set, cutting the two-year fixed rate by 0.10% and the five-year fixes by 0.5%.
