Landbay has launched a sub-3.0% five-year fixed rate buy-to-let mortgage.

The new rate is 2.99% and it is available up to 50% LTV on standard properties with loan sizes up to £1 million.

Paul Brett (pictured), managing director of Landbay intermediaries, said: “This is the only five-year fixed rate buy-to-let mortgage for limited companies that is under 3%.

“This should be positive news for brokers and landlords as Landbay is at the forefront of driving down rates and making buy-to-let ever-more affordable at a time when landlords most need it to be.”