According to the lender, 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.”
