Landbay has announced a reduction of up to 15 basis points on its non-portfolio buy-to-let mortgage products.
The repriced products, which are aimed at landlords with three or fewer mortgaged properties, apply to both standard and AVM-supported five-year fixed rate mortgages. As part of the update, Landbay has also introduced a new five-year fixed option available at up to 55% loan-to-value, offered at 4.84% with a 3% product fee.
In addition, three further five-year fixed products at 55% LTV have been added to the standard range, with rates starting from 4.39%. All offerings can be accessed through Landbay’s variable fee structure, which is designed to improve affordability for borrowers. Intermediaries can view and compare products using the lender’s enhanced buy-to-let affordability calculator.
The move follows a series of product enhancements by Landbay in recent weeks, including the introduction of additional borrowing and overpayment features to its product transfer range.
Rob Stanton, sales and distribution director at Landbay, said: “Following new innovation in our product transfer range, it’s fantastic to bring to market rate reductions and new products in our ever-popular non-portfolio range. This is an important segment of the market that absolutely needs support from lenders, so it is great to be able to assist our broker partners further in meeting this growing demand.”
He added: “Our activity this week is a clear example of our commitment to support the buy-to-let market. Not only are we making sure our products remain competitive, but our product range is broad enough to support landlords of all sizes and can help with both new purchases and refinancing. As ever, we continue to explore every opportunity to improve and expand our range to benefit our broker partners and their landlord clients.”
Headline rates in the revised range include a 4.29% five-year fixed at 75% LTV with a 6% fee and a 5.09% alternative at the same LTV level but with a lower 2% fee.
