Landbay has announced a range of new products and rate reductions across its HMO and MUFB fixed rate products. Two- and five-year fixes have seen reductions of up to 0.15%, with products starting at 4.34%. The range has also been extended with six new five-year fixed rate products at 65% LTV. It comes in the same week that Landbay announced further rate reductions across its five-year fixed rate product range, with rates reduced by as much as 0.06%. Highlights in the last changes include the new small HMO/MUFB five-year fixes at 65% LTV, with rates at 5.24% and 5.99% with 6% and 3% fees respectively. The two-year fixes with the same fees and LTV are available at 4.34% and 5.94% respectively.

LiveMore has launched a new fee-assisted £500 cashback mortgage range, lending exclusively to borrowers over the age of 50. The new range is available on the lender’s three and four tiers across its portfolio of retirement interest-only (RIO), standard interest-only and standard capital and interest mortgage products, and is available to customers who borrow a minimum of £75,000. The £500 cashback is payable to customers on completion of purchases and remortgages. The range has no product fee and includes free standard valuation fees on purchases and remortgages. Assisted legal fees are available on remortgages, and as with all LiveMore products, there is no application fee.

Hampshire Trust Bank (HTB) has completed a £20m loan for the refinancing of a major property portfolio in the North East. The portfolio consisted of 32 student houses in multiple occupation (HMO) in a university city. The client, who runs a significant property business, needed to remortgages the HMOs and raise over £4m in capital for future property investment, as well as undertaking light redecoration and refurbishment. The transaction was introduced by Mark Nixon and Fiona Smith at Finance 55, who contacted HTB to deal with the large and complex portfolio HMI portfolio. The bank completed the deal after collecting local information and agreeing appetite at executive level early on in the process to ensure all element were in place for approval.

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