Buy-to-let lender Landbay has launched a product transfer offering so mortgage holders can switch to a new rate three months before their current deal ends.
This also saves landlords legal costs, as it offers both automated and RICS valuation options.
The product transfer option is also available to those landlords with HMOs or MUFBs, something that is not readily available in the buy-to-let market.
Rob Stanton, sales and distribution director at Landbay, said: “With the help of our broad funding model, our in-house technology and our talented team, we are thrilled to be launching a product transfer proposition for our brokers and their landlord clients.
“It’s a tremendous opportunity for us to better look after our existing clients while helping our brokers expand their toolkit and provide their clients with more options.
“We are always looking at how we can improve our range to not only drive new efficiencies, but to help brokers stay competitive and answer the demands of the market. Timing is absolutely everything in the buy-to-let market, particularly for those looking to refinance.
“This new addition not only streamlines this process but provides greater convenience and potential cost savings, which will be most welcome given the current market landscape.
“It’s important to note that this launch is just the beginning. As to be expected from Landbay, we will continue to develop and expand this proposition as soon as the opportunity presents itself, ensuring it delivers as much value as possible.”
