We are excited to announce the launch of our latest range of two-year fixed-rate Like-for-Like Remortgage products, designed to address the affordability challenges faced by landlords looking to remortgage without changing their borrowing requirements.
Enhanced affordability with lower stress test rate
In response to the expected high remortgage activity this year, we have made significant changes to our stress test rate. Interest cover ratios (ICR) traditionality are set at pay rate plus 2%, we have lowered it to pay rate plus 1%. By recognising the regulatory requirement for stress testing while minimising its impact, our lower stress test rate ensures improved affordability and flexibility for borrowers during the calculation process.
Expanded Product range for added options
Our new range of Like-for-Like Remortgages includes five products tailored to standard properties, including mortgages for trading companies. With interest rates starting from 5.19% and a variable fee structure, we offer added flexibility to meet your client’s unique needs.
Supporting you and your clients
At Landbay, we understand the increased remortgage activity in the market and the potential impact of higher rates on borrowers. By lowering the stress test rate, we aim to provide landlords with greater financial flexibility and manoeuvrability during the affordability calculation.
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