Small HMO products, covering properties with up to six bedrooms, were introduced into the premier range last month.

The new small HMO products cover five-year, fixed-rate remortgage options at 70% loan-to-value (LTV), with a choice of fee structures designed to suit a range of landlord strategies and portfolio needs.

The pricing on the three products is 4.84% with a 5% fee, 5.24% with a 3% fee, and 5.64% with a 1% fee.

The buy-to-let (BTL) lender has also introduced known valuation fees for all small HMO products, moving from £750 (plus a £199 administration fee) for properties up to £400k, to £2,150 (plus the £199 fee) for properties between £1,800,001 to £2m.

Landbay sales and distribution director Rob Stanton says: “In the current market, we are seeing brokers and their landlord clients place a clear focus on managing existing borrowing and ensuring portfolios remain sustainable over the longer term.”

“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.”