Buy-to-let lender, Landbay, has today announced the launch of new Premier Remortgage AVM two-year fixed-rate products, alongside selected rate reductions across its Premier range.
The new Premier Remortgage AVM products are available up to 75% LTV, and comprise four two-year fixed-rate options offering zero, 1%, 3% and 5% fee structures.
Landbay said that, in opting for an AVM product and by removing the need for a physical valuation, the products could help landlord borrowers (on average) secure offers three times faster than standard products, while potentially saving up to £500 per case.
Premier is Landbay’s range of standard and HMO products for borrowers with up to 15 mortgaged properties. It is available to both individual and limited company landlords and features some of Landbay’s most competitive rates.
Premier two-year fixed-rate product highlights, available up to 75% LTV, include Landbay’s:
New Remortgage AVM products, available at 3.34% with a 5% fee and 5.84% with zero fee.
Two-year fixed-rate products, including Product Transfer and Like-for-Like remortgage options, have been reduced by five basis points (bps) and are now available at 3.34% with a 5% fee and 5.84% with zero fee.
New Product Transfer two-year fixed-rate product, available at 3.39% with a 5% fee.
Landbay has also reduced selected Premier Small HMO five-year fixed-rate products by five bps, including Product Transfer options. They include both a 4.79% product with a 5% fee and a 5.59%, with a 1% fee:
The lender said the changes provided advisers with increased choice across remortgage, Product Transfer, Like-for-Like and Small HMO lending, while supporting landlord borrowers looking to refinance or review existing borrowing arrangements.
For details on Landbay’s full buy-to-let product range, please visit: https://landbay.co.uk/intermediaries/products-and-btl-calculator/
“Following our recent changes across the Premier range, we’re pleased to be adding these new Premier Remortgage AVM products while making further reductions across a number of key product lines. Speed continues to matter for advisers and their landlord clients, particularly in the remortgage market, and these new AVM options help us deliver an even quicker journey where they’re suitable. Alongside that, today’s rate reductions give brokers even more competitive choices across more standard plus Small HMO cases. We remain focused on offering advisers a broad range of products, competitive pricing and the certainty they need to place business confidently with Landbay.”
Rob Stanton, Sales and Distribution Director at Landbay