Landbay, a digital buy-to-let finance platform, has reportedly joined the network panel of Commercial Finance Brokers UK (CFBUK) so that its members are able to gain access to the lender’s buy-to-let products and services.
CFBUK is recognized as a leading “whole of market” commercial finance broker (in the UK). Its members will now have the option to offer customers Landbay’s mortgages for large homes in multiple occupations (HMOs) and multi-unit freehold blocks at competitive rates that are usually available only on residential mortgages.
Landbay’s HMOs are currently available for student lets and the mortgage lender’s large HMO mortgages will be offered for properties that have anywhere between 6 to 12 rooms.
CFBUK members will also be able to take advantage of lower fees from the lender and can access Landbay’s free title indemnity insurance.
Paul Brett, MD of intermediaries at Landbay, noted:
“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, MD at CFBUK, remarked:
“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 business development manager 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.”
In October 2020, Landbay had joined the network panel at Synergy Commercial Finance, which is an experienced network of finance brokers focused on supporting the funding requirements of UK-based business.
As reported earlier this year, Landbay had teamed up with a UK-based bank. According to a note from Landbay, the deposit-taking bank was responsible for funding mortgages originated by Landbay and then would hold them on their balance sheet.
Landbay had stated that this arrangement complements its current institutional funding arrangements and will allow the lender to broaden its product range, which is available to buy-to-let investors via mortgage intermediaries. Landbay had also claimed that this partnership will make the company one of the most “diversely funded” buy-to-let lenders in the UK.