Landbay creates buy-to-let comparison affordability calculator

Landbay has upgraded its buy-to-let affordability calculator with a compare function that makes comparison of its products really easy.

Intermediaries and landlords can use the calculator to explore different scenarios on products and pricing to work out how much can be borrowed and how much rent will need to be charged.

Search filters find the products you want, then you simply tick the compare button on each product you are interested in. You enter information about the price of the property and how much you want to borrow and the products will display the Interest Cover Ratio, how much you can borrow plus the fees.

Alternatively, you could enter the property price and anticipated monthly rental charge and the results will show the maximum amount that can be borrowed.


Paul Brett, managing director, intermediaries at Landbay, commented: “Our affordability calculator is a really useful tool for brokers and landlords to compare the different buy-to-let mortgage products we offer.

“It is especially beneficial when comparing variable interest rate and fee structures, as it instantly illustrates the most affordable and suitable products available. For example, a lower rate and higher fee means more money can be borrowed and you can see the differences at a glance.


“The calculator can be used for both house purchase and remortgaging and incorporates the Interest Rate Cover Ratio for stress testing. That’s really useful for comparing two-year and five-year fixed rates such as our new like-for-like remortgage two-year deals which are stress tested at pay rate plus just 1%, instead of 2%. Five-year fixes are stressed at pay rate only.”


Landbay’s affordability calculator can be found under ‘Products & BTL Calculator’ on the Intermediaries page of its website.