Landbay has launched a new range of two- and five-year BTL products available through AVMs.
The new AVM range includes two-year standard options available at maximum 75% LTV, with rates starting from 3.74%.
Non-portfolio landlords with three or less mortgages properties can access five-year standard products — also available at up to 75% LTV — with pricing starting from 4.29%.
All products are available using Landbay’s variable fee structure for enhanced affordability, and include a £249 application fee.
The lender’s decision to introduce AVMs was made to significantly speed up the lending process, as well as offer savings for clients by removing the need to pay valuation fees.
Rob Stanton, sales and distribution director at Landbay (pictured above), said: “We’ve seen firsthand just how AVMs can transform the BTL 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.”
