Landbay has launched two new premier like-for-like products.
The buy-to-let (BTL) lender has launched a premier like-for-like two-year mounted fee remortgage at 4.49% with a most 75% loan-to-value (LTV) and a 2% price.
It has additionally added a product switch two-year mounted fee with a most LTV of 75% and a 2% price however at 4.54%.
The product switch choice is solely for current Landbay loans approaching reversion.
The minimal mortgage measurement of each products is £30,000 whereas the utmost mortgage measurement is £2 million.
Stress testing for these products is calculated on the pay fee or 4.50%, whichever is greater.
Landbay gross sales and distribution director Rob Stanton says: “These new Premier Like-for-Like products are a direct response to the continued challenges landlords face in at present’s market – notably round affordability.”
“By introducing these aggressive two-year fixes, we’re offering additional assist with affordability. This not solely provides landlords much-needed respiration area when remortgaging but additionally equips our dealer companions with a stronger toolkit to safe offers effectively.”
“We’re thrilled to increase our like-for-like vary. The customary fixed-rate product affords flexibility for brand new remortgages, whereas the product switch variant streamlines the method for current prospects.”
“In a sector the place remortgage volumes are anticipated to stay elevated—with billions in buy-to-let mortgages maturing quickly—these launches spotlight our concentrate on innovation and responding to the market.”
