The Premier range includes products for standard and house in multiple occupation (HMO) properties for borrowers with up to 15 mortgages. It is open to individual and limited company landlords.
The latest additions are available up to 75% loan to value (LTV), including four two-year fixed rates with zero, 1%, 3% and 5% fee structures.
Landbay said that by choosing an AVM product and forgoing a physical valuation, landlord borrowers could obtain a mortgage offer up to three times faster than those selecting standard products and potentially save up to £500 per case.
The products are priced at 3.34% with a 5% fee, up to 5.84% with no fee. They include product transfer and like-for-like remortgage options.
There is also a new two-year fixed product transfer, available at 3.39% with a 5% fee.
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Landbay has also lowered selected Premier small HMO five-year fixed rates by 0.05%, including product transfers. This includes a product priced at 4.79% with a 5% fee and 5.59% with a 1% fee.
Rob Stanton, 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.”
GB Bank cuts BTL rates at 65% LTV
GB Bank has reduced its core buy-to-let (BTL) product rates at 65% LTV by 0.3%, applied to its two-, three- and five-year fixes.
Its two-year fixed rates now start from 4.39% with a 5% fee or 5.39% with a 3% fee, while corresponding three-year fixed rates start from 4.77% and 5.77% respectively and five-year fixes from 5.53% and 6.13%.
Rates at 65% LTV remain unchanged.
Reductions have also been made to its bespoke proposition at 65% LTV, which is priced on a case-by-case basis for loans above £3m.
GB Bank will lend to first-time landlords, professional landlords, limited companies and special purpose vehicles (SPVs). It will consider HMOs, multi-unit freehold blocks (MUFBs), mixed-use properties and complex overseas structures, including overseas trusts and SPVs.
Affordability is assessed on a minimum 125% interest cover ratio (ICR) for basic-rate taxpayers, limited companies or SPVs, 145% for higher-rate taxpayers and 130% for foreign nationals and expats. The lender will also consider top slicing at its discretion.
The bank’s criteria for foreign national and expat clients include lending to worldwide residents, subject to exclusions, with no UK residency required, and clients must hold a UK bank account. There is no minimum income or UK property ownership requirement, and bespoke loans continue to be available up to £20m and 75% LTV for eligible cases.
Nick Allen, head of marketing, product and proposition at GB Bank, said: “Following the positive response to our recent rate reductions, we’re pleased to be making our 65% LTV range even more competitive. These latest changes ensure intermediaries have access to some of our strongest pricing yet, while continuing to benefit from the flexibility, speed and pragmatic underwriting that sets GB Bank apart.
“Competitive rates are important, but they’re only part of the equation. Intermediaries also need confidence that complex cases will be handled with a solutions-led mindset, not treated as exceptions. By combining attractive pricing with experienced decision-makers and a relationship-driven approach, we’re giving intermediaries the certainty that their clients’ cases will receive the thoughtful consideration they deserve.”
