You are here: Home - Buy to Let - News -

Landbay launches new mortgage for first-time buyer landlords

0
Written by:
11/01/2018
Landbay launches new mortgage for first-time buyer landlords

Specialist buy-to-let mortgage lender Landbay has announced it will now lend to first-time landlords who do not currently own a residential property.

First-time buyers will now be able to apply for a buy-to-let mortgage from Landbay if they are employed and earning a minimum income of £85,000.

Growing market

Only a limited few lenders will lend to aspiring landlords who don’t already own a home, helping professional people who are renting to invest in property themselves and get a foot on the housing ladder.

For example, those unable to get on the property ladder in expensive cities like London are increasingly looking at the possibility of buying rental property in less expensive locations.

Paul Brett, managing director of intermediaries at Landbay, said: “The introduction of buy-to-let mortgages for first-time buyers will now give people in a higher income bracket an opportunity to purchase a property and rent it out as a credible investment.”

The Landbay deals are available through a limited number of mortgage advisers.

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Comments are closed.

Save money now!

See how much you could potentially save by remortgaging to a different product

Your Mortgage Guides

Your Mortgage Award Winners 2017-2018

Download our guide to the best mortgage lenders in the UK

Read More >

How much can you borrow?

A calculator designed to help you understand how much you can borrow towards your property
Read previous post:
2257552-feeling-stressed
Revealed: The UK’s noisy neighbour hotspot

London is a hotbed for noisy neighbours, causing disrupted sleep for two-fifths of residents, according to a survey from Churchill...

Close