Landbay has reduced rates across its entire buy-to-let range by as much as 25 basis points (bps), in the latest move to strengthen its appeal to brokers and landlords.
The reductions span the lender’s Premier, Core and Specialist ranges, including new products and lower pricing on existing two-year fixed-rate options.
Within the Premier range, which caters for landlords with up to 15 properties in limited company SPVs, standard two-year fixed-rate products at up to 75% loan-to-value (LTV) have been cut by 10bps, with rates now starting from 3.39%. Product transfer and like-for-like remortgage options have also been reduced.
A new Premier product has been added, offering a two-year fixed rate at up to 75% LTV with a 1% fee, starting from 4.89%.
CORE DEALS
In the Core range, aimed at portfolio landlords and limited company borrowers, standard two-year fixed-rate products at 75% LTV have also fallen by 10bps.
The largest reductions have been made to the Specialist range, where small HMO and multi-unit freehold block products have dropped by up to 25bps. These are available up to 65% and 75% LTV, including options for first-time landlords, trading companies and product transfers.
HOLIDAY LET
Holiday let products within the Specialist range have seen rates reduced by 20bps, with two-year fixes now starting from 3.99%.
The changes follow earlier reductions to Landbay’s five-year Premier range, announced earlier in the week, with rates trimmed by up to 15bps. All products are available with a variable fee structure to support affordability, and intermediaries can assess options using the lender’s buy-to-let affordability calculator.
SUPPORTING INTERMEDIARIES
Rob Stanton, sales and distribution director at Landbay, said: “Our activity over the past couple of weeks has demonstrated our commitment to expanding our product range and ensuring our rates remain as competitive as possible.
“This latest round of sizeable reductions covers our entire range and is designed to provide new and valuable routes for landlords of all shapes and sizes, and the intermediaries looking to support them.
“Activity such as this is critical as landlords across the country continue to capitalise on investment opportunities that still exist in the market.
“Just as important is the large number of property owners who are set to refinance and are currently reviewing their options.
“Putting the right products in the hands of expert advisers means they are in the best possible position to support landlords and facilitate transactions.”
