Landbay has repriced its Limited Edition range of five-year fixed rate buy-to-let remortgage products and introduced a £500 cashback payable upon completion.
The rates on four of the five products have been reduced by five basis points and the minimum loan value has decreased to £200,000 from £250,000. The maximum loan value for this particular product range remains at £500,000.
LTVs are either 65 per cent or 75 per cent with a free valuation option on the standard remortgage products. The refreshed Limited Edition range also caters for Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB) of up to six bedrooms or units.
· Standard – 5 year – 65 per cent LTV – 2.94 per cent (was 2.94 per cent) 1.5 per cent fee
· Standard – 5 year – 75 per cent LTV – 3.04 per cent (was 3.09 per cent) 1.5 per cent fee
· Standard – 5 year – 75 per cent LTV – 3.04 per cent (was 3.09 per cent) 1.75 per cent fee with free valuation
· Small HMO – 5 year – 75 per cent LTV – 3.29 per cent (was 3.34 per cent) 1.5 per cent
· Small MUFB – 5 year – 75 per cent LTV – 3.29 per cent (was 3.34 per cent) 1.5 per cent
Paul Brett, managing director, intermediaries at Landbay, commented: “Following the initial Limited Edition launch a month ago, we’ve responded to feedback from the market, by lowering the minimum loan size, reduced rates by up to 5 basis points as well as now offering a £500 cashback.
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