Landbay has launched a new set of special edition BTL five-year fixed-rate mortgage products, with three years of ERCs.
The new options allow the borrower to redeem the mortgage in years four and five if they wish with no penalty.
They also offer benefits in terms of stress testing, as the ICR is calculated at payrate.
The new 75% LTV products are priced at:
— 4.99% with a 5% fee
— 5.19% (4% fee)
— 5.39% (3% fee)
— 5.59% (2% fee)
— 5.59% (£1,999 fee)
Rob Stanton, business development director at Landbay (pictured above), said: “This new range provides more choice for landlords and works if they are not sure whether to opt for a shorter-term or a longer-term fixed rate.
“This offer provides additional flexibility and reassurance in an uncertain market.”
