Landbay has launched a buy-to-let calculator that it says is “unique” to each of the lender’s specific products and potential clients.

The fintech firm says this allows brokers to advise clients on the “costs of taking out a Landbay buy-to-let mortgage with a greater deal of accuracy”.

It says the new calculator takes into account property type, whether the client is an individual or limited company, and within seconds, gives the interest cover ratio. Intermediaries can then apply a decision in principle.

Landbay says it worked with brokers to develop this tool to “enhance processes wherever possible”.

Landbay managing director of intermediaries Paul Brett says: “More and more intermediaries are using Landbay for the first time and so adding in a highly intuitive, product-specific buy-to-let calculator, helps improve their experience.

”Key to our constant development is our constant communication with intermediaries.”

Brett adds: “We strive to provide better ways to buy-to-let, so we are constantly developing complex tech solutions to make intermediaries experience as simple as possible.”

In January, Landbay cut rates across its entire product range and launched a new range of remortgage-only products, as the buy-to-let specialist said it expected to see a spike in demand from landlords.