Landbay snips buy-to-let remortgage range

Landbay has lowered the rates of its ‘limited edition’ remortgage products by 0.05% and introduced a £500 cashback completion offer.

The lender’s 5-year fixed rate to 75% loan-to-value has been reduced from 3.09% to 3.04% with a 1.5% fee.

Meanwhile its 75% LTV 5-year fixes on Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB) have both been reduced from 3.34% to 3.29%.

HMO and MUFB mortgages are for properties with six bedrooms or units.

The lender has also cut the minimum loan value to £200,000 from £250,000 on four out of the five products. The maximum loan value remains at £500,000.

Paul Brett, managing director, intermediaries at Landbay, said: “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.”

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