Buy-to-let lender Landbay has reduced rates across its fixed rate product range by up to 20 basis points (bps).
Its largest reduction is across its range of non-portfolio products, designed specifically for landlords with three or less mortgaged properties.
Both two-year and five-year fixed rate products, available at up to 70% and 75% loan-to-value (LTV) have seen the 20bps reduction.
This also includes Landbay’s AVM-supported range of standard and non-portfolio products, available with either a two-year or five-year fixed rate at up to 75% LTV.
55% LTV
Meanwhile, Landbay has cut rates on its 55% LTV, two-year and five-year fixed rate products. These products, including those for non-portfolio landlords, have been reduced by 15bps.
“we are moving in the opposite direction to much of the market and bringing forward rate reductions”
Key products include:
- Standard AVM and Standard 2-year fixed 75% LTV @ 3.79% – 6% fee
- Standard AVM and Standard 2-year fixed 75% LTV @ 5.79% – 2% fee
- Non-portfolio and AVM non-portfolio standard 5-year fixed 75% LTV @ 4.59% – 6% fee
- Non-portfolio and AVM non-portfolio standard 5-year fixed 75% LTV @ 5.39% – 2% fee
Rob Stanton, sales and distribution director at Landbay, said: “It’s great to be a position once again where we are moving in the opposite direction to much of the market and bringing forward rate reductions.
“These are not on niche products either, but across our fixed rate range, including standard products, support for smaller landlords and through our innovative range of AVM products.
“These have proven incredibly popular thanks to the efficiencies and cost savings they can offer.
“By leveraging our in-house technology and broker portal, along with our close relationships with our funders, we are able to identify opportunities and take action very quickly.
‘This means brokers have access to a competitive range of products to support the many landlords still seizing opportunities and making moves in the current market.”
