Landbay has revamped its term tracker range of buy-to-let mortgages with rate reductions and new products to replace a selection of those that have been withdrawn.

Term tracker rates are down by 0.86 percentage points to 4.34% on standard products, small HMOs (Houses in Multiple Occupation) and small MUFBs (Multi-Unit Freehold Block).

These products are available for new build as well as older properties up to 75% LTV.

The term trackers for large HMOs and MUFBs have had rates reduced by 1.1 percentage points to 4.59% and the LTV has been raised to 75% from 70%.

All of these products track Bank of England base rate and there are no early repayment charges.

Paul Brett (pictured), managing director, intermediaries at Landbay, said: “These term tracker products offer flexibility as well as competitive pricing, while offering borrowers the opportunity to remortgage to another product at any stage without penalty if they wish.”