Landbay has introduced rate cuts across its buy-to-let product range, with rates reducing by up to 20 basis points (bps).
Standard two-year fixed rate products have seen the biggest reduction, with rates now starting at 3.59% at up to 75% loan to value (LTV).
The 20bps reduction also includes the AVM-supported range of standard two-year fixed rate products, which is designed to offer greater efficiencies and cost savings.
In addition, standard five-year fixed rate products – available at up to 55% LTV – have been cut by 10bps. The same reduction has been applied to Landbay’s range of non-portfolio products, which are suitable for landlords with three or less mortgaged properties.
This follows improvements last week across Landbay’s range of small HMO/MUFB products, where rates were cut by up to 0.15bps. All products are available using Landbay’s variable fee structure for enhanced affordability.
Key products include the following:
- Standard 2-year fixed 75% LTV @ 5.59% with 2% fee
- Standard 2-year fixed 75% LTV @ 3.59% with 6% fee
- Standard (AVM) Non-portfolio 5-year fixed 75% LTV @ 5.39% with 2% fee
- Standard (AVM) Non-portfolio 5-year fixed 75% LTV @ 4.59% with 6% fee
- Small HMO/MUFB 2-year fixed 75% LTV @ 5.69% with 3% fee
- Small HMO/MUFB 5-year fixed 75% LTV @ 5.89% with 3% fee
Rob Stanton, sales and distribution director at Landbay, said: “After kicking off the year by expanding our popular limited-edition range to include remortgage and new purchase options, it’s great to be able to announce rate cuts across our product range.
“Landlords continue to show their resilience and respond to investment opportunities across the country. As a lender, we need to make sure our product range is there for those landlords and the many brokers that support them.
“Alongside rate cuts to make sure our product range is competitive as possible, we will continue to introduce new products and prioritise innovation to help brokers answer the demands of landlords of all sizes and requirements.
“It promises to be an exciting year ahead at Landbay as we continue to strengthen our proposition.”
