Falbros head of sales Alex Ewen has welcomed the addition of Landbay, one of the UK’s leading buy-to-let lenders, to the network panel of Commercial Finance Brokers UK (CFBUK).
Ewen explained that CFBUK is a whole of market commercial finance broker providing its services to professional introducers through its relationship with several large residential mortgage broker networks. He said:
"CFBUK has established its own network of appointed representative commercial finance brokers, spread throughout the UK, through its unique FCA Approved ‘Dual Appointed Representative Proposition’.
It is an outstanding network for commercial finance and specialist and larger buy-to-let mortgages and here at Falbros we are delighted that Landbay are providing their highly competitive range of products, combined with low fees, to CFBUK introducers and members.
Under this partnership, Landbay will provide mortgages for large houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) at rates usually only seen on residential mortgages. CFBUK members will also be able to access lower fees."
This is the second network partnership Landbay has agreed in under a month as they look to provide an increasing number of buy-to-let solutions to commercial finance brokers seeking lower interest rates and lower fees for their portfolio landlord customers.
Landbay’s large HMO mortgages will be available for buildings with between six and 12 rooms including student lets. The lender will also provide ‘day one buy-to-let re-mortgages’ for borrowers exiting a bridging loan.
Paul Brett, managing director of intermediaries, at Landbay, said:
"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."
Karl Mallett, managing director of CFBUK, confirmed that whilst service times are currently a real issue with many lenders this simply isn't the case at Landbay. He added:
"Its rates and service are exemplary, at the same time offering direct access to both its BDM team and its underwriters.
Landbay’s 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."
Further significant benefits to CFBUK members will include the ability to offer their clients’ access to Landbay’s free title indemnity insurance. Given that speed is often of the essence, particularly with many investors wanting to purchase before the end of the stamp duty holiday, CFBUK’s introducers will also be able to take advantage of Landbay’s instant decision in principle and completely paperless end-to-end system.
As a result of this advanced technology, Landbay has operated within its service level agreements throughout the pandemic and continues to do so confirming that most offers are granted in an average of 48 hours.