remortgage with bmi
LandBay Mortgages
Landbay Remortgage
LandBay Mortgages is a forward-thinking provider specialising in buy-to-let finance, delivering innovative solutions to property investors and accredited intermediaries. Founded in 2014, LandBay has evolved to serve the modern property market by lending to the buy-to-let sector.
By partnering with leading institutional funders, LandBay offers competitive mortgage products with a customer-first approach. Their commitment to transparency, speed and expertise has earned them multiple industry accolades, reinforcing their reputation as a trusted partner in the UK buy-to-let market.
the differences
What makes Landbay Mortgages Different?
Buy-to-Let Specialists
Unlike many general lenders, Landbay focuses exclusively on the buy-to-let market. This specialist approach enables them to offer tailored products and underwriting processes that directly address the unique needs and challenges of property investors.
Streamlined Decision Making
Leveraging cutting-edge digital technology, Landbay streamlines the mortgage application process for intermediaries and borrowers. Their platform delivers fast, secure decisions and reduces the potential for manual errors, ensuring a smooth and efficient lending experience.
Institutional Backing & Transparency
Supported by leading institutional funders, Landbay offers enhanced stability and competitive rates. This backing also ensures robust risk management, clear communication and a commitment to ethical, customer-centred lending practices that set them apart from traditional mortgage lenders.
3 Steps to Remortgaging with Landbay
Follow these three simple steps to obtain a Landbay mortgage:
1
Submit a Decision in Principle (DIP) Application
Begin by completing the online DIP form through Landbay's platform. This first step assesses your eligibility and provides real-time updates on available products. You'll receive an instant decision after submitting your application.
2
Complete the Full Mortgage Application (FMA)
If the DIP is approved, proceed to the FMA. This involves providing detailed information about the property and your financial status, uploading necessary documents, selecting your solicitor, and submitting the application. Applicants will need to accept the application form via email, pay the administration fee, and choose a valuation instruction preference.
3
Underwriting, Valuation, and Completion
Landbay's underwriters will assess your application and instruct a property valuation. After the valuation is received and approved, an offer is issued to you. Solicitors are then instructed to complete the conveyancing process, followed by the transfer of funds and completion of the remortgage.
Pros & Cons of
Landbay BTL Mortgages
Pro: Specialised Buy-to-Let Expertise
Landbay's exclusive focus on buy-to-let mortgages ensures tailored products for property investors' specific needs.
Pro: Efficient Digital Process
Their streamlined, paper-free application system enhances speed and reduces manual errors for borrowers.
Pro: Strong Institutional Support
Backed by leading institutional funders, Landbay offers stability and competitive rates to clients.
Con: Limited to Buy-to-Let Market
Landbay's services are unsuitable for those seeking residential or owner-occupied mortgages.
Con: Potential Early Repayment Charges
Long-term fixed-rate products may incur significant fees if borrowers repay loans early.
apply today
Take Action with BMI Money
Engaging a mortgage broker for a Landbay mortgage offers access to tailored buy-to-let solutions, expert guidance through complex cases, and efficient application processes.
Get Started Today
Partnering with BMI Money for your Landbay remortgage provides access to expert advice, years of experience with buy-to-let mortgages, and ensures tailored solutions and competitive rates.
FAQ
about
Landbay
Does Landbay offer BTL remortgage options?
Yes, Landbay provides buy-to-let remortgage products, including options for those who have owned their property for less than six months. They also offer Like-for-Like Remortgages and Loyalty Remortgage products for existing clients.
What is a Like-for-Like Remortgage?
A Like-for-Like Remortgage is designed for landlords looking to remortgage without altering their borrowing amount. Landbay has enhanced these products by lowering stress test rates to improve affordability.
Are there specific remortgage products for existing Landbay borrowers?
Yes, Landbay offers Loyalty Remortgage products specifically for their existing borrowers who wish to remortgage their current properties. These products cater to various property types, including standard properties, small and large Houses in Multiple Occupation (HMOs), Multi-Unit Freehold Blocks (MUFBs), and trading companies.
Does Landbay offer product transfers?
Currently, Landbay does not offer product transfers. However, they provide a range of Loyalty Remortgage products for existing borrowers looking to remortgage their properties with Landbay.
What is a Day 1 Remortgage, and does Landbay offer it?
A Day 1 Remortgage allows landlords to refinance a property immediately after purchase, often following renovations that increase the property’s value. Landbay is among the few lenders that offer Day 1 Remortgages, enabling landlords to quickly access funds tied up in their properties.
How can I start the remortgaging process with Landbay?
To begin the remortgaging process, you can contact Landbay directly or through an intermediary. They offer a streamlined, digital application process designed for efficiency and convenience.
For more detailed information or specific inquiries, it’s advisable to consult with a mortgage advisor (such as Bright Money Independent) or contact Landbay directly.
Will I need a property valuation?
Yes, LendInvest will arrange a property valuation to assess your property’s worth and determine the loan amount you can borrow.
Can I get advice on the best remortgage options?
LendInvest offers expert support, but you can also consult a mortgage broker (BMI Money for example) for tailored advice on the best remortgage options based on your circumstances.
