Landbay has expanded its Premier buy-to-let range with the launch of new two-year tracker mortgages and zero-fee five-year fixed-rate products.
The new products are aimed at landlords with portfolios of up to 15 properties and are available to both individual and limited company borrowers.
Premier products represent some of the lender’s most competitively priced options.
Two two-year tracker products have been added to the range, both available up to 75% loan to value with no early repayment charges. One is open to both purchase and remortgage cases, while the other is a like-for-like remortgage-only option.
Both trackers are priced at Bank Base Rate plus 0.34%, which equates to a current pay rate of 4.09%, and come with a 3% fee.
Landbay says the new trackers are designed to appeal to landlords who expect further base rate reductions over the next one to two years. At the most recent Monetary Policy Committee meeting, members voted by a narrow five to four margin to hold Bank Base Rate at 3.75%.
The lender has also launched two zero-fee five-year fixed-rate products, also available up to 75% loan to value. A 5.09% product is available for both purchase and remortgage, while a remortgage-only option is priced at 5.14% and includes a free valuation.
The latest additions follow wider changes to Landbay’s product range last month, including a new partnership with digital conveyancing firm Conveyd. That partnership introduced a range of remortgage products offering assisted legals and a free valuation.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “The markets appear to be pricing in two, possibly three, further BBR cuts over the next year, but in many cases that expectation is already built into fixed-rate pricing.
“Our new two-year trackers are therefore designed for landlords who want to see the full benefit of any base rate cuts if or when they happen.
“With no early repayment charges, they also give advisers and their clients flexibility to move to a fix if the rate outlook changes.
“Alongside this, we are adding two new zero fee, five-year fixes for landlords who prefer longer-term certainty without the cost of upfront product fees.
“For many remortgage clients, removing fees can materially improve cash flow from the outset.
“These launches reinforce our focus on giving advisers straightforward options and landlord borrower solutions within the Premier range, now across both tracker and fixed rates, ensuring they are aligned to how landlords are approaching borrowing decisions in the current market.”
