Landbay is reducing rates by up to 60 basis points across its range of buy-to-let mortgages for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB).

The loan-to-value is 75% for these products and includes Landbay’s variable fee structure of between 2% and 3% for increased affordability around the interest coverage ratio (ICR).

In addition, new standard two-year fixed rates have been introduced at 4.94% with a 3% fee and 5.44% with a 2% fee, both are up to 75% LTV.

Example products up to 75% LTV:

• Small HMO/MUFB 2 year fixed, 5.19%, 3% fee
• Small HMO/MUFB 2 year fixed, 5.69%, 2% fee
• Small HMO/MUFB 5 year fixed, 5.79%, 3% fee
• Small HMO/MUFB 5 year fixed, 5.99%, 2% fee
• Large HMO/MUFB 2 year fixed, 6.29%, 2.5% fee

Rob Stanton (pictured), business development director at Landbay, said: “With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again.

“Our award winning broker portal, which we built in-house and launched last summer, allows us to make product changes swiftly. This means our rates can reflect what is going on in the money markets almost straight away.”