The new five-year products are available at 70% and 75% LTV
Buy-to-let lender Landbay has launched a couple of new five-year fixed rate mortgage options that feature no product fees.
The first product is a five-year fixed rate at 5.69% for loans with a 75% loan-to-value (LTV) ratio and a ceiling of £1.5 million.
Complementing this is another five-year fixed rate option, also with a 5.69% interest rate for loans at 70% LTV and a maximum property valuation of £750,000. The product joins the new standalone range of AVM products, with rates starting at 4.29%.
Both products are now available for intermediaries to view, with a minimum loan amount set at £65,000. They can be compared using Landbay’s buy-to-let affordability calculator.
New week, new 0% fee products! 🎉
— LANDBAY (@LandbayUK) February 19, 2024
We've added 0% fee options on our 5-year standard and 5-year AVM standard products. These new products join our range of variable fee products.
Visit full range here ➡️https://t.co/cMq7LkvUdA#Buytolet #Newproducts pic.twitter.com/78E9tLhtTY
“We pride ourselves on our ability to respond quickly to opportunities to expand and enhance our product range,” said Rob Stanton (pictured), sales and distribution director at Landbay. “It’s all part of our commitment to our broker partners to provide a product range that is broad and diverse enough to meet the requirements of their landlord clients across the country.
“While the rate may not be suitable for every client, it will certainly work for those with no appetite for fees or those borrowers with higher-yielding properties. As affordability continues to improve, we’re thrilled to offer landlords two superb zero-fee options, including our latest addition to the AVM product range.
“This range has been met with outstanding feedback from our intermediary partners, further enhancing our commitment to providing valuable solutions in the property market.”
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