Landbay – Lender focus

This month we focus on Landbay who are consistently in our "Top 3" lenders for completed mortgage business

Landbay are an award winning Buy to Let lender - having won the Mortgage Introducer Awards BTL Lender award for the last 4 years running.

Our brokers and admin staff have a fantastic relationship with the Landbay team - “They are easy to get in touch with, and respond to enquiries promptly and effectively”, said our head of admin Steve Clarke.

We sat down with Alex Witham – Regional Account Manager to ask a few questions.

“Alex what would you put forward as Landbays most impressive USPs?"

"We allow remortgaging within 6 months of ownership, with the loan based on an updated market value if it has been refurbished. We lend on high rise blocks in England and Wales with no limit to the number of storeys. Multi-unit freeholds made up of HMO’s as well as single lets. New builds all on one freehold title. We have products with no redemption penalties. We consider flats above and next to commercial premises (excluding take aways and pubs). Portfolio landlords are a speciality, with no limitations on the size of their property portfolio. Investment valuations are considered on HMO and MUFB.”

“Give us an interesting fact from the last 6 months of Landbay business?”

“Around 80% of our business is on 5 year fixes with an average LTV of 73%, indicating the growing demand for longer term deals and extracting maximum capital whilst property values remain strong. (5 year fixed was 66% of business in 2020 and 77% in 2021). We stress 5 year deals at payrate, meaning high value property can often borrow the full 75% with Landbay.”

“What has been your most popular product from the last 6 months?”

“Our 5 year fixed remortgage on standard property BTL 75% product.”

“Our enquiry numbers suggest that interest in HMO property types is currently on the up, are you experiencing this? and if so have you taken any steps to capture this increase?”

“We’ve seen noticeable growth in HMO and MUFB business (sourcing data shows 9,173 HMO KFIs for all lenders in 2020 vs 18,896 in 2021. Growth remains in 2022 YTD).”

We would like to thank Alex Witham at Landbay for taking the time to sit down and talk to us and share Landbays insights.

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