Landbay, Zephyr and Cumberland Building Society update product offerings

Landbay, Zephyr Homeloans and Cumberland Building Society have announced changes to their specialist finance product ranges.


Landbay has launched a larger loan BTL product range, consisting of five-year fixed-rate options for standard properties, HMOs, MUFBs, and trading companies.

The standard property suite is priced at 3.24%, with a separate option for small portfolio landlord standard properties at 3.14%, both at 75% LTV.

The new-build standard property range comes at 3.24% at 65% LTV and 3.34% at 75% LTV.

For small HMO and MUFBs, the lender offers two products — one for regular properties, priced at 3.59% at 75% LTV, and a new-build option available at 3.69% at 75% LTV.

The lender can offer loans of up to £1.5m, with the exception of the 75% LTV new-build standard property and new-build small HMO and MUFB options, which have a maximum loan size of £1m.

In addition, Landbay has raised the maximum loan size on existing five-year fixed-rate products to £1.5m from £1m (with no change in rates) for its large HMO and MUFB (up to 12 bedrooms), trading company standard property, and trading company small HMO and small MUFB options.

Paul Brett, managing director for intermediaries at Landbay, said: “We are seeing more landlords wanting larger loans, particularly for investment in HMOs and MUFBs. 

“They tend to be professional landlords with growing portfolios who want to invest in larger properties.

“There has also been an increase in trading limited companies investing in HMO and MUFBs. 

“This type of accommodation attracts higher yields for landlords and, even if there are vacancies within the property, there is always income from the other tenants.”

Zephyr Homeloans 

Zephyr Homeloans has reduced rates across most of its BTL mortgage products.

The lender is now offering 2.64% for its two-year fixed-rate standard property mortgage and 2.89% for its standard five-year fixed-rate option, both available to individuals and limited companies at 65% LTV. 

Meanwhile, the rates for the products designed for HMOs, MUFBs, and specialist new-build and flats above commercial property now start at 2.99% for two-year fixes and 3.33% for five-year fixes, both at 65% LTV. 

Paul Fryers, managing director at Zephyr Homeloans, commented: “We’re constantly evolving our products for BTL landlords in an extremely fast moving market.

“Our new rates may appeal particularly to landlords who may have held back from increasing their portfolios last year but who are now looking to invest.”

Cumberland Building Society

Cumberland Building Society has revised its holiday let product offering.

The lender’s existing 75% LTV two-year variable and five-year fixed rates have been reduced, which are now priced at 3.39% and 3.99% respectively for standard products, and 4.24% and 4.84% respectively for non-standard.

In addition, its £75,000-750,000 and £750,000-2m pricing tiers have been combined to offer one product for loan sizes from £75,000-2m.

It has also introduced a new 60% LTV tier, available at 2.99% for discount variable rate options, 3.44% for two-year fixed-rate, and 3.59% for five-year fixes for standard products.

Meanwhile, the non-standard options at 60% LTV are priced at 3.84%, 4.29% and 4.44% for two-year variable, two-year fixes, and five-year fixed terms, respectively.

The building society will lend up to £2m on an individual transaction, and up to £5m aggregate borrowing across a portfolio of properties.

Scott McKerracher, head of commercial at Cumberland Building Society, said: “We are pleased to have introduced a 60% LTV tier, which means our mortgage product offering is now even more attractive within the holiday let market. 

“By combining our pricing tiers to offer one single product for loan sizes [between] £75,000-2m, we have simplified our pricing structure. 

“We’re seeing the staycation market continue to grow, with more investors seizing the opportunity to start up a holiday-let business or expand an existing holiday-let portfolio.”

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