Landbay has launched a product transfer offering to bring more options to brokers and their landlord clients.
The new service enables brokers to start the process of helping clients switch to a new rate up to three months before their current deal ends.
It removes legal costs but also offers automated and RICS valuation options to help landlords avoid valuation fees.
The product transfer option is also available to those landlords with houses of multiple occupation and multi-unit freehold buildings.
Landbay sales and distribution director Rob Stanton says: “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.
Yesterday, Landbay announced rate cuts across its product range by as much as 0.30%.
Elsewhere, Virgin Money has reduced selected fixed rates on purchase, buy-to-let (BTL) and product transfer by as much as 0.10%.
The lender’s BTL range fix and switch rates will be lowered by up to 0.10% and will start from 5.10%.
Selected two- and five-year fixed rates with a 1% fee will be cut by as much as 0.10% and will start from 4.39%.
Product transfer selected 65% loan-to-value (LTV) two- and three-year fixes rates will be lowered by up to 0.06% and will start from 4.26%.
Within the same range, selected BTL two- and three-year fixed rates will be reduced by as much as 0.10% and will start from 4.30%.
The lender’s residential 90% and 95% LTV fix and switch rates will be cut by up to 0.07% and will start from 5.32%.
