Landbay cuts buy-to-let rates by up to 0.35%
Landbay has made a series of cuts to its buy-to-let (BTL) rates of up to 0.35% applied to its Premier, Core and Specialist ranges.
Following the reductions, BTL rates now start from 3.44%.
The lender has also launched eight specialist mortgages, expanding its 65% loan-to-value (LTV) offering within the small houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) ranges. At the same time, Landbay has widened its tier two criteria to provide greater flexibility for landlords with minor credit blips.
Rate cut highlights
Premier – for standard and HMO properties for borrowers with up to 15 mortgaged properties.
- Two-year fixed rates at 75% LTV reduced by 0.15% across 15 products, with rates from 3.44%.
- Five-year fixed 75% LTV products reduced by 0.05% across 19 products with rates from 4.69%.
- Small HMO two- and five-year fixed products reduced by up to 0.15% across nine products, with rates from 4.69%.
Core – for standard properties for individuals, limited companies and limited liability partnerships (LLPs_, supporting landlords with portfolios of any size.
- Two and five-year fixed deals reduced by up to 0.35%, with two-year fixed rates from 4.29% and five-year fixed rates from 5.04%.
Specialist – for holiday lets, HMOs, MUFBs and trading companies.
- Small HMO and MUFB products reduced by up to 0.35% with two-year fixed rates from 4.64% and five-year fixed rates from 5.69%.
- Holiday Let products reduced by up to 0.25%, with two-year fixed rates from 4.69% and five-year fixed rates from 5.79%.
- Trading company products reduced by up to 0.15%, with two-year fixed rates from 4.79% and five-year fixed rates from 5.84%.
Rate reductions apply to product transfers.
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Rob Stanton (pictured), sales and distribution director at Landbay, said: “While market conditions remain volatile, we’re committed to reacting quickly when opportunities arise to improve pricing, helping brokers access lower rates across our Premier, Core and Specialist ranges alongside an expanding product offering.”
