"As remortgage remains a key driver for business, I’m sure the news of rate reductions, in addition to a softer stress test will be very welcome"
- Rob Stanton - Landbay
Specialist buy-to-let lender, Landbay, has announced that it has reduced the rates across its range of two-year fixed-rate products by up to 0.50%.
Following the changes, Landbay’s two-year fixed product range now starts at 4.19%. Reductions are also included in its like-for-like range, which are available to landlords looking to remortgage with no changes to their borrowing requirements.
The lender has also announced a new standard two-year fixed rate product, available at 75% LTV with a 6% fee.
A standard two-year fixed rate at 55% LTV now starts at 4.19% with a 7% fee, while the two-year fix at 75% LTV with a 6% fee has launched at 5.09%.
Small HMO and MUFB two-year fixed rates at 75% LTV have reduced to 5.19% with a 6% fee, while a like-for-like remortgage two-year fixed rate at 75% LTV has reduced to 4.49% with a 7% fee.
Rob Stanton, business development director Landbay, said: “Our most recent survey has shown that shorter fixes are increasing in popularity, as landlords weigh up their options in the current market. We’re pleased to answer this demand by not only adding additional two-year products but by making significant rate reductions across our range, including for those with a like-for-like remortgage.
“Having the technology in-house to make these decisions allows us to be incredibly agile and respond to the changing market.
"Our aim is to give our brokers' partners more tools at their disposal to meet the requirements of their clients. As remortgage remains a key driver for business, I’m sure the news of rate reductions, in addition to a softer stress test will be very welcome.”
