Specialist buy-to-let (BTL) lender, Landbay, has formed a team of underwriters to focus entirely on professional landlords with a portfolio value of between £2m and £15m.
According to the lender, the team of five will work with brokers and their landlord clients to understand their business plans.
“Professional landlords know their business, understand their local markets and who their competitors are. If we can tap into that it makes our assessments more accurate and we can tailor our underwriting accordingly,” said Landbay portfolio team lead, James Cooper-Smith.
“Since launching the team, we have seen an increase in landlords coming back to us, via their broker, to finance more properties. Building up relationships is positive for everyone involved, not just for us, but for the broker and landlord too,” he adds.
In January, Landbay moved to cut selected rates across its line-up of BTL products, and added new build homes to its green loans portfolio.
Its lowest rate is now set at 2.65% for a two-year fix at 65% LTV.
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