"Being an agile fintech lender means we’ve been able to react quickly to market changes as swap rates have come down"
- Rob Stanton - Landbay
According to Landbay, following the reductions, rates now start at 5.05% and include:
A 70% LTV product at 5.05% (was 5.15%) - 7% fee, 75% LTV at 5.25% reduced from 5.35% with a 6% fee, and 75% LTV at 5.85%, down from 5.95% with a 3% fee.
There is also a 75% LTV at 6.05% (2% fee) and 75% LTV product at 6.05% (was 6.15%) that carries a fee of £1,499.
Rob Stanton, business development director at Landbay, said: “Being an agile fintech lender means we’ve been able to react quickly to market changes as swap rates have come down.
“As our broker portal has been built in-house and is managed by our own team, we can make systems changes in minutes rather than days or weeks. This means we can stay competitive and move fast when the opportunity to reduce rates arises.
“Our variable fee structure helps intermediaries to find the right product for their landlord clients when assessing affordability.
"It is easy to compare products using our recently upgraded buy-to-let affordability calculator as you can mix and match different fee and interest rate options as well as product types.”
