Landbay has launched small house in multiple occupation (HMO) remortgage options to its Premier range.
The product is available for properties with up to six bedrooms and offers five-year fixed rate remortgage terms at 70% loan to value (LTV).
The buy-to-let (BTL) lender introduced small HMO products to its Premier range last month and said the latest addition would enhance options for landlords.
The small HMO remortgages have a range of fee structures.
The option with a 5% fee has a rate of 4.84% and the deal with a 3% fee is priced at 5.24%, while the option with a 1% fee is priced at 5.64%.
Landbay has also launched known valuation fees on all small HMO products, from £750 plus a £199 administration fee for properties up to £400,000, to £2,150 plus the £199 fee for properties valued from £1,800,001 to £2m.
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Rob Stanton, sales and distribution director at Landbay, said that in the current market, brokers and their landlord clients were putting a “clear focus on managing existing borrowing and ensuring portfolios remain sustainable over the longer term”.
He said: “Remortgage activity is therefore a key area of demand, particularly for more specialist property types such as small HMOs.
“These new remortgage products are designed to give brokers a broader range of options when supporting landlord clients, with pricing and fee structures that can be matched to different financial priorities.”
Stanton added: “We have been clear in recent weeks that, while market conditions remain changeable, our focus is on maintaining product availability and adding to the range where it is responsible to do so. The launch of these products is a direct reflection of that approach.
“By continuing to expand our Premier offering, we are ensuring advisers have access to competitive remortgage product solutions for small HMO landlord borrowers, helping them place business with confidence even in testing conditions.”