Landbay unveils streamlined BTL product transfers

Landbay unveils streamlined BTL product transfers

0:03 AM, 14th February 2025, About 22 hours ago

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Landbay has introduced a new product transfer service for buy to let mortgages, offering brokers and landlords increased efficiency and choice.

The platform allows brokers to initiate a rate switch for clients up to three months before their current term expires, using a fully digital and automated system.

The service aims to deliver savings by eliminating legal fees and providing automated and RICS valuation options, reducing or removing valuation costs.

Developed with broker and landlord feedback, the offering includes competitive rates and caters to landlords with HMOs or MUFBs, a feature not widely available.

Product transfer proposition

The lender’s sales and distribution director, Rob Stanton, 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.”

He added: “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.”

Previous integration of AVMs

The launch follows Landbay’s previous integration of AVMs (automated valuation models), designed to accelerate offer timelines and cut expenses for landlords.

Mr Stanton said: “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.”

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