Specialist buy-to-let lender Landbay has made further reductions across its range of two and five-year fixed rate products.
Landbay has announced reductions of 0.20 percentage points on its two-year and five-year fixes for both HMOs and MUFBs, with rates now starting at 5.04%.
In addition to reductions to its standard two-year fixed rates, its two-year like for like remortgage range has also been reduced and now starts at 4.19%.
Landbay has also expanded its Limited Edition range with new five-year fixed rate products at 65% LTV and a maximum loan amount of £1.5 million. These products are available with Landbay’s variable fee structure to accommodate differing borrowing requirements and appetite to fees.
Products now include:
Small HMO/MUFB:
- Small HMO/MUFB 2-Year Fixed 75% LTV @ 04% with 6% Fee
- Small HMO/MUFB 5-Year Fixed 75% LTV @ 79% with 6% Fee
New Limited Edition:
- Limited Edition Standard 5 Year Fixed rate 65% LTV @ 05% with 7% Fee – max loan £1.5M
- Limited Edition Standard 5 Year Fixed rate 65% LTV @ 85% with 3% Fee – max loan £1.5M
Like for Like:
- Like for Like Remortgage Standard 2 Year Fixed rate 55% LTV (Gross) @ 19% with 7% Fee
- Like for Like Remortgage Standard 2 Year Fixed rate 75% LTV (Gross) @ 44% with 7% Fee
- This range features reduced stress test of payrate + 1% or 5.5%, whichever is greater.
Standard 2-year fixed rate
- Standard 2-Year Fixed rate 55% LTV @ 69% with 6% Fee
- Standard 2-Year Fixed rate 75% LTV @ 99% with 6% Fee
Rob Stanton, business development director at Landbay, said: “As soon as it is possible for us to do so, our priority is to reduce rates and pass these down to landlords and our broker partners. Having our own technology and in-house broker portal is critical in achieving this so quickly. Following reductions last week, we’re delighted to be making further moves to support brokers and ensure our product range remains highly competitive.”
