"These new Premier Like-for-Like products are a direct response to the ongoing challenges landlords face in today's market, particularly around affordability"
- Rob Stanton - Landbay
Landbay has announced that it is expanding its Premier range with two new like-for-like mortgage options aimed at improving affordability for landlords.
The buy-to-let lender is introducing a Premier like-for-like 2-year fixed rate remortgage at 4.49%, with a maximum 75% LTV and a 2% fee.
In addition, Landbay is offering a product transfer (PT) version. This is also a 2-year fixed rate with a maximum LTV of 75% and a 2% fee, set at 4.54%. The PT option is available exclusively to existing Landbay customers whose loans are approaching reversion.
Both products accommodate a wide range of portfolios, with a minimum loan size of £30,000 and a maximum of £2 million. Stress testing is calculated at the pay rate or 4.50%, whichever is higher, reflecting Landbay’s focus on affordability calculations that brokers and clients have responded positively to.
“These new Premier Like-for-Like products are a direct response to the ongoing challenges landlords face in today's market, particularly around affordability,” said Rob Stanton, sales and distribution director at Landbay. “By introducing these competitive 2-year fixes, we’re providing further help with affordability. This not only gives landlords much-needed breathing space when remortgaging but also equips our broker partners with a stronger toolkit to secure deals efficiently."
“We're thrilled to expand our like-for-like range. The standard fixed-rate product offers flexibility for new remortgages, while the product transfer variant streamlines the process for existing customers. In a sector where remortgage volumes are expected to remain elevated, with billions in buy-to-let mortgages maturing soon, these launches highlight our focus on innovation and responding to the market."
“Ultimately, these products are designed to support the increase in demand for 2-year fixed rate products, empowering landlords to make informed decisions without the pressure of extended lock-ins. We're committed to evolving our offerings based on real market insights, and we encourage intermediaries to use our buy-to-let affordability calculator to explore how these fit their clients' needs.”
