Landbay launches new product transfer option for buy-to-let
Buy-to-let lender Landbay has announced the launch of a brand-new product transfer offering, bringing new efficiencies and greater options to brokers and their landlord clients.
The new service enables brokers to start the process of helping clients switch to a new rate up to three months before their current deal ends, providing brokers with a fully digital and automated application process from launch.
Alongside new efficiencies and greater convenience, the new product transfer service is designed to deliver real savings for landlords too. In addition to removing legal costs, the range offers both automated and RICS valuation options to help landlords avoid valuation fees.
The new offering has been developed following feedback from brokers and designed with brokers and landlords in mind. Beyond competitive rate options, the product transfer option is also available to those landlords with HMOs or MUFBs – something that is not readily available in the buy-to-let market.
Product transfers are the latest in a long line of developments from Landbay to support brokers and both new and existing landlord customers. Previously, Landbay became the first dedicated buy-to-let lender to integrate AVMs to speed up offer times and provide cost savings for landlords.
Rob Stanton, sales and distribution director at Landbay, said: “With the help of our broad funding model, our in-house technology and our talented team, we are thrilled to be launching a product transfer proposition for our brokers and their landlord clients. It’s a tremendous opportunity for us to better look after our existing clients while helping our brokers expand their toolkit and provide their clients with more options.
“We are always looking at how we can improve our range to not only drive new efficiencies, but to help brokers stay competitive and answer the demands of the market. Timing is absolutely everything in the buy-to-let market, particularly for those looking to refinance. This new addition not only streamlines this process but provides greater convenience and potential cost savings, which will be most welcome given the current market landscape.
“It’s important to note that this launch is just the beginning. As to be expected from Landbay, we will continue to develop and expand this proposition as soon as the opportunity presents itself, ensuring it delivers as much value as possible.”