Landbay has launched four new fixed-rate holiday let products for landlords, all up to 75% loan-to-value (LTV).
The range includes a 2-year fixed at 4.19% with a 5% fee, and another 2-year fixed at 5.19% with a 3% fee.
There is also a 5-year fixed at 5.29% with a 5% fee, and a 5-year fixed at 5.69% with a 3% fee.
Loan sizes run from £100,000 to £1m and landlords can have up to five properties.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Holiday lets are an area of interest for many landlords – particularly with the long-term growth of the staycation market.
“By launching this dedicated suite of products, we are giving brokers and their borrower clients straightforward access to products that have been designed with the quirks of holiday letting in mind.
“Competitive rates, clear criteria and flexible loan sizes mean we can support landlords looking to diversify their portfolios.”
Landbay has also changed its buy-to-let products into three sets.
The premier set is for landlords with up to 15 properties in limited company special purpose vehicles (SPVs), the core set is aimed at portfolio landlords and includes limited company options and automated valuation model (AVM) products, while the specialist set is for more complex properties, including holiday lets, houses in multiple occupation (HMOs), multi-unit freehold blocks (MUFBs) and trading companies.
Each set has its own product transfers.
Stanton added: “We’ve taken the opportunity to simplify our wider buy-to-let range into three clear product sets – Premier, Core and Specialist.
“This makes it easier for brokers to navigate our offering and quickly find the right solution for their landlord clients.
“Whether it’s a straightforward limited company application, a large portfolio case or a more complex property such as a holiday let or an HMO, our new structure will make the process, faster, simpler and more transparent.”
