Landbay, a buy-to-let lender, has announced a series of rate cuts on selected products within its Premier remortgage range.
Premier is a range of standard products for landlords with up to 15 mortgaged properties, available to both individual and limited landlords. The latest changes apply to Landbay’s 75% five-year LTV, fixed rate remortgage products, including the variable fee, AVM range and fixed fee legal or cashback products with free valuations.
As a result of the changes, the rates on the AVM refinancing series have been reduced by 0.05%, while the mortgage interest deduction and the cashback series have both been reduced by 0.10%.
Selected products include: the Premier Remortgage AVM 4.64% with a 5% fee and 5.44% with a 1% fee.
The Premier Remortgage Assisted Legals with free valuation available at 5.59%, with different fee levels determining the maximum loan size, starting from a fee of £999 for a maximum loan of £100,000, up to £1,999 for a loan of £750,000.
And the Premier Remortgage Cashback with Free Valuation, also available at 5.59%, again with different fee levels determining the maximum loan size, between £899 for £150,000 and £1,899 for £1 million.
Landbay said the latest reductions are intended to give agents and their landlords more competitive remortgage options for a range of property and lending needs, while also supporting efficiencies through AVMs, free valuations, cashback and assisted legal services.
Comment on the latest offers Land Bay sales and distribution director Rob Stanton said: “In today’s market, brokers continue to see strong demand for remortgages from landlords looking to control costs, refinance efficiently and plan ahead with greater certainty. These latest discounts on our Premier remortgage products are designed to support that activity with a wider choice of competitive options.”