Landbay, one of the UK’s leading buy-to-let lenders, has joined the network panel of Commercial Finance Brokers UK (CFBUK).
CFBUK is a whole of market commercial finance broker providing its services to professional introducers through its relationship with several large residential mortgage broker networks. Through its unique FCA approved, ‘Dual Appointed Representative Proposition’, CFBUK has also established it own network of appointed representative commercial finance brokers, spread throughout the UK.
Under this partnership, Landbay will provide mortgages for large houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) at rates usually only seen on residential mortgages. CFBUK members will also be able to access lower fees.
This is the second network partnership Landbay has agreed in under a month, with Landbay providing an increasing number of buy-to-let solutions to commercial finance brokers who are looking for lower interest rates and lower fees for their portfolio landlord customers.
Landbay’s large HMO mortgages will be available for buildings with between six and 12 rooms. Landbay HMOs are also available for student lets. It will also provide ‘day one buy-to-let remortgages’ for borrowers exiting a bridging loan.
CFBUK members will be able to offer their clients’ access to Landbay’s free title indemnity insurance. Because speed is often of the essence, particularly with many investors wanting to purchase before the end of the stamp duty holiday, CFBUK’s introducers will be able to take advantage of Landbay’s instant decision in principle and completely paperless end-to-end system, while also benefiting from direct access to underwriters.
As a result of this advanced technology, Landbay has operated within its service level agreements throughout the pandemic and continues to do so with most offers granted in an average of 48 hours.
Paul Brett, managing director of intermediaries, at Landbay, said, “With speed of the essence at the moment we are bringing our competitive range of buy-to-let mortgages to CFBUK, a brokerage and network that truly understands the need for tailored underwriting combined with speed to offer.
“CFBUK is an outstanding network for commercial finance and specialist and larger buy-to-let mortgages and we are pleased to provide our highly competitive range of products combined with low fees to its introducers and members.”
Karl Mallett, managing director of Commercial Finance Brokers UK, added, “Service times are a real issue with many lenders at the moment – but not with Landbay. Its rates and service are exemplary, at the same time offering direct access to both its BDM team and its underwriters. Its rates are highly competitive and the flexibility it offers in terms of the broad range of buy-to-let properties it will lend on will be a real asset to our clients, introducers and network members.”