Landbay has announced a 25 basis point reduction in rates across its non-portfolio buy-to-let range, in a move aimed at supporting smaller landlords.
The revised pricing applies to Landbay’s fixed-rate products tailored for landlords with three or fewer mortgaged properties. The five-year fixed rates in this range now begin at 4.09%, with loans available up to 75% loan-to-value. The range includes both AVM and standard valuation options and features a variable fee structure to improve affordability.
STANDARD DEALS
In addition to the non-portfolio range, Landbay has also cut rates on its standard five-year fixed 55% LTV products, which now start from 4.19%. These changes follow similar reductions made last month to the lender’s limited edition and product transfer offerings.
Among the leading rates now available are a 70% LTV five-year fix at 4.09% with a 7% fee and a 75% LTV version at 4.34% with a 6% fee. Lower fee options are also on offer, with a 75% LTV product priced at 5.14% with a 2% fee. The 55% LTV standard five-year fixed is now available at either 4.19% with a 7% fee or 5.19% with a 2% fee.
Landbay’s sales and distribution director, Rob Stanton (pictured), said: “Our recent data has demonstrated the appetite that still exists among landlords to invest in property. As a buy-to-let lender, we’re not doing our job if we’re not making sure we support every corner of the market with relevant products and competitive rates. It’s great to be able to bring reductions to our non-portfolio range, which remains hugely popular as it answers a clear need and demand in the market.
“For the health and prosperity of the private rented sector, we absolutely need to be supporting landlords of all shapes and sizes, and equipping advisers with the broad product range that enables them to deliver the value that they offer. It presents a great opportunity to check out our enhanced affordability calculator – especially with a whole host of improvements and upgrades made.”
Brokers can access the lender’s upgraded buy-to-let affordability calculator to assess eligibility and compare total loan costs. The calculator now includes a streamlined interface and a new feature showing the estimated total cost of the loan over the initial term, enabling intermediaries to make faster and more informed product comparisons.
