Landbay has launched a range of 2-year and 5-year products, available using an automated valuation model (AVM).
The new AVM range includes 2-year standard options available at up to 75% loan-to-value (LTV), with rates starting at 3.74%.
Non-portfolio landlords with three or fewer mortgaged properties can access 5-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.
Earlier this year, Landbay became the first dedicated buy-to-let lender to integrate AVMs to significantly speed up offer times.
The lender found it was on average three-times faster than a standard application, with some cases receiving an offer within 24 hours of the decision in principle.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “We’ve seen first-hand 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.”
