Buy-to-let lender, Landbay, has launched new Premier remortgage AVM two-year fixed rate products, alongside selected rate reductions across its Premier range.
The new AVM products are available up to 75% LTV and comprise four two-year fixed rate options offering zero, 1%, 3% and 5% fee structures. Rates start from 3.34% with a 5% fee, rising to 5.84% with no fee.
Landbay said that by removing the need for a physical valuation, the products could help landlord borrowers secure offers three times faster than standard products on average, while potentially saving up to £500 per case.
Premier is Landbay’s range of standard and HMO products for borrowers with up to 15 mortgaged properties. It is available to both individual and limited company landlords and features some of Landbay’s most competitive rates.
In addition, two-year fixed rate products, including product transfer and like-for-like remortgage options, have reduced by 5bps and now start at 3.34% with a 5% fee and 5.84% with no fee.
In addition, a new product transfer two-year fixed rate product has launched at 3.39% with a 5% fee.
Landbay has also reduced selected Premier small HMO five-year fixed rate products by 5bps, including product transfer options. Rates start from 4.79% with a 5% fee and 5.59% with a 1% fee.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Following our recent changes across the Premier range, we're pleased to be adding these new Premier remortgage AVM products while making further reductions across a number of key product lines.
"Speed continues to matter for advisers and their landlord clients, particularly in the remortgage market, and these new AVM options help us deliver an even quicker journey where they're suitable.
"Alongside that, today's rate reductions give brokers even more competitive choices across more standard plus small HMO cases. We remain focused on offering advisers a broad range of products, competitive pricing and the certainty they need to place business confidently with Landbay."
