"These new remortgage products are designed to give brokers a broader range of options when supporting landlord clients, with pricing and fee structures that can be matched to different financial priorities"
- Rob Stanton - Landbay
Buy-to-let lender Landbay has launched small HMO remortgage products within its Premier range, adding to specialist options it introduced for the sector last month.
Premier is designed for landlords with up to 15 mortgaged properties, available to both individual and limited company borrowers, and carries some of Landbay's most competitive rates. Small HMO products, covering properties with up to six bedrooms, were added to the range in March. The new remortgage additions extend that offering with three five-year fixed-rate options at 70% LTV, each with a different fee structure: 4.84% with a 5% fee, 5.24% with a 3% fee, and 5.64% with a 1% fee.
Landbay has also introduced fixed valuation fees across all small HMO products. These run from £750 plus a £199 administration fee for properties valued up to £400,000, rising to £2,150 plus the £199 fee for properties valued between £1,800,001 and £2m.
The launch follows a series of broader improvements at Landbay, including the introduction of automated valuation model options and expansion into the Scottish market.
"In the current market, we are seeing brokers and their landlord clients place a clear focus on managing existing borrowing and ensuring portfolios remain sustainable over the longer term," said Rob Stanton, sales and distribution director at Landbay (pictured). "Remortgage activity is therefore a key area of demand, particularly for more specialist property types such as Small HMOs."
He said the range of fee structures had been a deliberate design choice. "These new remortgage products are designed to give brokers a broader range of options when supporting landlord clients, with pricing and fee structures that can be matched to different financial priorities," he said.
Stanton added that the launch reflected Landbay's stated approach to product development in uncertain conditions. "We have been clear in recent weeks that, while market conditions remain changeable, our focus is on maintaining product availability and adding to the range where it is responsible to do so," he said.
"By continuing to expand our Premier offering, we are ensuring advisers have access to competitive remortgage product solutions for Small HMO landlord borrowers, helping them place business with confidence even in testing conditions."
