Landbay cuts buy-to-let rates by up to 0.20%

By

Rob Stanton, business development director, Landbay

Landbay has announced rate reductions across its buy-to-let product range, with no less than 51 products being reduced by as much as 0.20%.

Among those reduced is standard five-year fixed rate products, available up to 75% loan-to-value (LTV).

These have been reduced by up to 0.15%, with rates now starting at 4.39%.

The small HMO/MUFB product range has also seen improvements with two-year options up to 75% LTV now starting at 3.89%.

Five-year options get the same reduction of up to 0.20% across both 75% and 80% LTV product ranges. Rates now begin at 4.79%.

Trading company products, designed for clients looking to purchase property from within an existing trading company, are reduced by 0.10%, with rates now starting at 4.69%.

All products are available using Landbay’s variable fee structure for enhanced affordability.

The entire range can be viewed and compared using the lender’s buy-to-let affordability calculator.

It follows the recent launch of a new range of 75% LTV AVM products, comprising of two-year standard options, as well as five-year standard products for non-portfolio landlords with three or less mortgaged properties.

Product examples include:

  • Standard 5 year fixed 75% LTV @ 4.39% with 7% fee
  • Standard 5 year fixed 75% LTV @ 5.39% with 3% fee
  • Small HMO/MUFB 5 year fixed 75% LTV @ 4.79% with 6% fee
  • Small HMO/MUFB 5 year fixed 75% LTV @ 5.49% with 3% fee
  • Small HMO/MUFB 2 year fixed 75% LTV @ 3.89% with 6% fee
  • Trading Company Standard 2 year fixed @ 4.69% with 5% fee

Rob Stanton, sales and distribution director at Landay, said:

“This extensive round of rate reductions further demonstrates our drive to make our product range as competitive as possible.

Brokers are supporting their landlord clients with a broad range of requirements and our product range has to reflect this to help them meet those demands.

We continue to stay close to the market and in close contact with our funders to identify opportunities, as well as areas where we can innovate to answer product gaps and drive efficiencies.

Today’s reductions, along with our new AVM range are fantastic examples of this.”

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