Highlights of the range include a standard term tracker at 3.98% up to 75% LTV with an interest Coverage Ratio of 125% at 4.50%.
Also on offer is a HMO/MUFB term tracker at 4.13% up to 75% LTV with an interest Coverage Ratio of 130% at 4.75%.
The products are available to SPVs at the same rate as individual borrowers, and with no additional fees, through approved broker partners: Atom, Brightstar, Complete fs, Mortgage for Business, Professional & Commercial, The Business Mortgage Company, The Buy to Let Business.
John Goodall, CEO and Co-Founder of Landbay, commented: “Our new buy-to-let mortgage products have been specifically designed to serve the needs of the professional landlord and help brokers build on the opportunities afforded by a cut to the Bank of England’s base rate. We know that speed, accessibility and flexibility are crucial for brokers, especially in times of uncertainty or market turbulence, which is why we’ve removed Early Redemption Charges and continue to aim to give brokers a decision in principle within 48 hours.”
