Landbay has extended its options for landlords with smaller portfolios by introducing new Small HMO remortgage products within its Premier range.
Small HMO products, covering properties with up to six bedrooms, were introduced into the Premier range – which is available to landlords with up to 15 mortgaged properties — last month.
The new products cover five-year fixed-rate remortgage options at 70% LTV, with a choice of fee structures designed to suit a range of landlord strategies and portfolio needs.
The pricing on the three products is: 4.84% with a 5% fee, 5.24% with a 3% fee, and 5.64% with a 1% fee.
Landbay has also introduced known valuation fees for all Small HMO products, ranging from £750 (plus a £199 administration fee) for properties up to £400,000, to £2,150 (plus the £199 fee) for properties between £1,800,001 to £2m.
Rob Stanton, sales and distribution director at Landbay (pictured above), said: “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.
“Remortgage activity is therefore a key area of demand, particularly for more specialist property types such as small HMOs.
“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.”
