Landbay extends 2-year like-for-like landlord remortgage deals Mortgage Finance Gazette

Img

Landbay has added to its like-for-like remortgage products with a range of new two-year deals.  

The buy-to-let specialist has launched standard two-year fixes — available at 65% and 75% loan-to-value, with rates starting at 4.54%, with a 5% fee.   

Two-year standard tracker options are also available with no early repayment charges, and a 5% fee. These are also available at 65% and 75% LTV, with rates starting at 24 basis points plus Bank base rate.   

The offers are suitable for landlords with no changes to their current borrowing requirements.   

Last week, it introduced lower stress tests for landlords at payrate, rather than its standard calculation of payrate plus 2%.  

Landbay sales and distribution director Rob Stanton says: “Following high demand and positive feedback on our new reduced stress test, we’re thrilled to be able to enhance our like-for-like range further with new fixed and tracker options.   

“While the new products bolster the toolkit of our broker partners, the enhanced affordability calculation gives some much-needed breathing space to those landlords remortgaging onto a higher rate than before.”