Buy-to-let lender Landbay has launched new products and reduced rates across its Premier range as it targets landlords seeking simpler pricing and improved value.
The changes include the introduction of two new two-year fixed-rate products at 75% LTV, alongside rate cuts of up to 0.5% on existing Premier products.
Premier is Landbay’s standard range for landlords with portfolios of up to 15 properties and is available to both individual and limited company borrowers. The range is positioned as offering simplified criteria and some of the lender’s most competitive pricing.
The two new additions to the range are a two-year fixed-rate product at 5.24% with no fee, and a two-year fixed-rate product priced at 2.74% with a 5% fee.
In addition, Landbay has cut rates by 0.5% across its existing Premier 75% LTV two-year fixed-rate products. This means its two-year fix with a 1% fee is now priced at 4.74%, with rates of 4.24% at a 2% fee, 3.74% at a 3% fee and 3.24% at a 4% fee.
The same rate reductions have also been applied to all product transfer options within the Premier range.
The lender has also reduced the rate on its like-for-like two-year fixed-rate remortgage-only product, aimed at landlords who are not looking to raise capital. This product has seen a 0.5% cut, bringing the rate down to 4.24% with a 2% fee.
This like-for-like product differs from the rest of the Premier range in that its interest coverage ratio is stressed at the pay rate or 4.5% – whichever is higher.
Landbay said the product is intended to support advisers whose landlord clients are seeking additional affordability over the short term, without committing to a five-year fixed rate.
VIDEO SERIES
Alongside the product changes, Landbay has launched a new adviser-focused video series, titled We Get Buy-to-Let. The series focuses on key areas within the buy-to-let sector and outlines how the lender can support landlord borrowers.
The first video, available on Landbay’s LinkedIn page, focuses on affordability, the remortgage market and how advisers can help landlord clients maximise borrowing while retaining flexibility.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “These product additions to Premier, alongside the rate cuts, reflect where the buy-to-let market is right now.
“Many landlords are coming to the end of deals, or seeking to purchase, and want better value without added complexity, while advisers will be focused on securing competitive pricing in an environment far different to just a couple of years ago.
“By expanding choice at 75% LTV and reducing rates across the Premier range, we are giving advisers more ways to support landlord clients who want flexibility and strong pricing, and with our like-for-like remortgage-only products, without necessarily having to lock into a longer term.
“Premier is designed to be straightforward, with clear criteria and keen pricing that works for both individual and limited company landlords with portfolios up to 15 properties.
“Extending the same reductions to product transfers is also important, as it helps advisers retain clients and deliver good outcomes at refinance.
“Our PT process only happens with the involvement of the adviser, and we are here to support advisers in what is lining up to be a very busy year in the buy-to-let market.”
