The deal comes with different fees depending on the size of the loan being taken out.
For a maximum loan of £150,000, the fee is £899; for £300,000, the fee is £1,009; up to £500,000, the fee is £1,399; for £700,000, the fee is £1,599; and for deals up to £1m, the fee is £1,899.
Regardless of the loan amount, all borrowers receive £500 cashback and a free valuation.
Premier is a range of standard BTL mortgages for both individual and limited company landlords with up to 15 properties.
The release follows the launch last week of two two-year trackers and two zero-fee five-year fixed-rates, also within the Premier range.
The changing role of the Bank of Mum and Dad
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Rob Stanton (pictured), sales and distribution director at Landbay, said: “These new five-year, fixed rate remortgage products are built around what brokers are telling us landlords need right now, which is clear pricing and tangible support with upfront costs.
“In a market where many landlords are reviewing their refinance options, our aim is to provide simple, competitive products within the Premier range that help brokers deliver positive outcomes for their clients.”
