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% or 75% 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% LTV – 2.94% (was 2.94%) 1.5% fee
- Standard – 5 year – 75% LTV – 3.04% (was 3.09%) 1.5% fee
- Standard – 5 year – 75% LTV – 3.04% (was 3.09%) 1.75% fee with free valuation
- Small HMO – 5 year – 75% LTV – 3.29% (was 3.34%) 1.5%
- Small MUFB – 5 year – 75% LTV – 3.29% (was 3.34%) 1.5%
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.”
Established in 2014, Landbay is a multi-award-winning lending platform for prime residential buy-to-let mortgages, with funds originating from institutional investors.
Landbay was recently announced at number six in Deloitte’s Fast50 of the fastest growing technology companies in the UK and number 11 in the FT1000 – the Financial Times’ annual list of the fastest growing European companies. Landbay won a further eight awards in 2019 in recognition of growth and excellence within the industry.
Landbay is an FCA regulated company, a member of UK Finance and is based in London (UK).