"Landlords continue to show their resilience and respond to investment opportunities across the country. As a lender, we need to make sure our product range is there for those landlords and the many brokers that support them."
- Rob Stanton - Landbay
Landbay has announced rate reductions of up to 0.20% across its buy-to-let product range.
Following the changes, which saw standard two-year fixed rate products seeing the biggest reduction, rates now start at 3.59% at up to 75% loan-to-value. The 0.20% reduction also includes the AVM-supported range of standard two-year fixed-rate products, which is designed to offer greater efficiencies and cost savings.
Additionally, standard five-year fixed rate products – available at up to 55% LTV - have been cut by 0.10%. So have the lender’s range of non-portfolio products, which are suitable for landlords with three or fewer mortgaged properties.
Highlights include standard 2-year fixed 75% LTV @ 5.59% with a 2% fee, or @ 3.59% with 6% fee. Standard (AVM) Non-portfolio 5-year fixed 75% LTV @ 5.39% with 2% fee, or @ 4.59% with 6% fee, and Small HMO/MUFB 2-year fixed 75% LTV @ 5.69% with 3% fee. A five-year fixed option is available at 75% LTV 5.89% with a 3% fee.
“After kicking off the year by expanding our popular limited-edition range to include remortgage and new purchase options, it’s great to be able to announce rate cuts across our product range," said Rob Stanton, sales and distribution director at Landbay, "Landlords continue to show their resilience and respond to investment opportunities across the country. As a lender, we need to make sure our product range is there for those landlords and the many brokers that support them.
Rob concluded, “Alongside rate cuts to make sure our product range is as competitive as possible, we will continue to introduce new products and prioritise innovation to help brokers answer the demands of landlords of all sizes and requirements. It promises to be an exciting year ahead at Landbay as we continue to strengthen our proposition.”