Landbay is lowering interest rates on its two-year fixed rate buy-to-let mortgages.
This will apply to standard properties, houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
The rate changes are as follows:
- Standard property 2 Year 75% LTV fixed – 4.89% reduced by 0.10 percentage points from 4.99%
- Standard property 2 Year 80% LTV fixed – 5.09% reduced by 0.20 percentage points from 5.29%
- Small HMO 2 Year 75% LTV fixed – 4.89% reduced by 0.30 percentage points from 5.19%
- Small MUFB 2 Year 75% LTV fixed – 4.89% reduced by 0.30 percentage points from 5.19%
Earlier in the month it also reduced rates on its term tracker range by up to 0.86 percentage points across HMOs and MUFBs on both new builds as well as older properties.
Paul Brett, Landbay’s managing director, intermediaries, said: “Our wide and diverse range of funding enables us to reduce our rates for borrowers when most rates from other lenders continue to rise.
“With the Bank of England widely expected to raise base rate again later this week, we recognise that this is a really important time for landlords and property investors to lock into a lower-cost fixed-rate deal. This rate reduction on our two-year fixed-rate range will enable investors to remove some of the volatility from their costs, providing an element of certainty at this crucial and uncertain time.”
