Landbay introduces limited-edition BTL remortgage range

Landbay has launched a new suite of limited-edition BTL remortgage products for loans between £250,000 and £500,000.

The five-year fixed-rate range offers options for both standard BTL properties, as well as small HMOs and MUFBs of up to six bedrooms or units.

The limited-edition standard options are priced at 2.95% at 65% LTV and 3.09% at 75% LTV, both including a 1.5% product fee.

Customers can also opt for a free valuation with the 75% LTV standard offering for a higher product fee of 1.75%.

Meanwhile, the small HMO and MUFBs products are both available at 3.34% at 75% LTV, with a 1.5% product fee.

Paul Brett, managing director for intermediaries at Landbay (pictured above), said: “We are targeting the mid-range of loans between £250,000 and £500,000, as there will be a large amount of remortgaging over the next few months in this price bracket. 

“In particular, we expect to see an increase in demand for remortgaging of HMOs and MUFBs for loans of this size.

“Five-year fixed rates are very popular with BTL borrowers, especially portfolio landlords, as the affordability stress test that is applied is the pay rate.”

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