LandBay launches product transfer products, Virginity reduces fixed rates – Mortgage Strategy
Landbay has launched a product transfer product that brings more options to brokers and their landlord clients.
The new service enables brokers to start helping clients with new rates up to three months before the current transaction is closed.
It eliminates legal fees, but also offers automated and RIC valuation options to help landlords avoid valuation fees.
Landlords with homes with multiple occupations and multiple unit freehold buildings can also use the product transfer option.
“With our extensive funding model, our internal technology and our talented team, we are excited to make product transfer claims for our brokers and their landlord clients,” said Rob Stanton, Director of Sales and Distribution, Landbay.
“This is a huge opportunity for us to better care for existing clients while helping our brokers expand their toolkits and provide customers with more options.
yesterday, Landbay announces tax cuts Up to 0.30% within its product range.
Elsewhere, Virgin Money lowers fixed interest rates when purchasing, buying LET (BTL) and product transfers up to 0.10%.
The lender’s BTL range fixed and switching ratio will be reduced by up to 0.10%, starting at 5.10%.
Two- and five-year fixed interest rates with 1% fees will be reduced by as much as 0.10%, starting at 4.39%.
Product transfers selected 65% loan to value (LTV) for two- and three-year fixed rates will be reduced by up to 0.06%, starting at 4.26%.
Within the same range, the selected BTL two- and three-year fixed rates will be reduced by up to 0.10%, starting at 4.30%.
LTV fixed and switch rates for 90% and 95% of lenders’ residential LTVs will be reduced by 0.07%, starting at 5.32%.
