Landbay, one of the UK’s leading, institutionally funded buy-to-let lenders, today improves its application process with the introduction of an instant Decision in Principle (DiP). Landbay constantly strives to make the buy-to-let mortgage market more accessible and this launch continues its aim to provide cutting edge technology combined with the personal touch.
The new application process has been designed by brokers for brokers. A Decision in Principle now only takes two minutes and uses intuitive technology in line with the whole application process which is completely paperless. Mortgage application to completion with Landbay is now just nine simple steps.
The process was designed to be better, faster and more intuitive. Landbay used broker focus groups to test the system and recommend changes. The brokers also decided the order and flow that they thought the application process should go through. This will make brokers’ lives easier and dramatically speed up the application process.
Landbay’s aim is always to combine cutting edge technology with a human touch. It provides direct access to a highly experienced team that knows the buy-to-let market inside out and who understand the importance of moving quickly to get a case over the line.
Also, today, Landbay is refreshing its product range. All lenders have seen a change in the cost of funds in the past week but Landbay’s range of buy-to-let mortgages is remaining highly competitive. Landbay will continue to lend up to 75% LTV and up to £1m to individuals and limited companies. It will lend across the whole range of mainstream and specialist cases including HMOs, SPV, MUFBs and other complex buy-to-let.
Paul Brett, Managing Director of Intermediaries at Landbay, said, “We have spent many months designing and building our Decision in Principle and application process to be what we believe to be the best and most streamlined in the buy-to-let market. Brokers are the lifeblood of our business and so they were instrumental in the design of this, in order that we could deliver what they want in the way that they most need it.
“Our product range revamp is necessary to cope with ongoing market conditions and ensure that Landbay continues to be strong and steady in these challenging times. We believe in a hands-on approach to achieve the most appropriate outcome both for the broker and their client. Our aim is always to be the first port of call for specialist buy-to-let cases.”
In order to protect its staff and deal effectively with the risks posed by the Corona virus, Landbay staff have been working from home for over a week. Landbay is a technology driven company with some of the most advanced systems in place. Its service standards and service level agreements continue to be as fast and effective as they ever were. Brokers can continue to access the BDMs and underwriting teams in the same way that they always could.