Landbay has upgraded its product transfer (PT) range for buy-to-let (BTL) landlords, adding options for both additional borrowing and overpayments.
Landlords looking to refinance can now borrow more money during the product transfer process, with funds available for things like property improvements or capital raising.
This can be requested at the start of the application and is subject to product criteria.
Borrowers can also now make overpayments during the process, with flexibility to pay more up until completion.
Landbay has also integrated background portfolio uploads directly into the application, aiming to make the stress testing process smoother.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “From launch, we were clear that we would continue to develop our PT range to make sure it delivers as much value as possible.
“Adding both overpayments and additional borrowing is a clear example of this and an important next step.
“It means we can equip brokers with a product range that allows them to best serve their landlord clients as they come to refinance.”
Stanton added: “Just as important, it gives brokers another reason to recommend Landbay at the outset – knowing full well the options are there to support borrowers and continue that relationship at the end of the initial term.
“It is great to be able to launch this new development which is a real testament to the capabilities of our in-house technology and broker platform, the talents of our team and the strength of our broad funding model.”
