Landbay launches tracker products and cuts rates
Landbay has expanded its buy-to-let (BTL) tracker mortgage range with the launch of 11 new products while reducing rates on selected existing tracker deals by up to 15 basis points (bps).
The new products have been added across its core, premier, small house in multiple occupation (HMO) and product transfer ranges.
The move comes as fixed rate mortgage pricing faces renewed upward pressure, with Landbay saying it is seeing increased demand for tracker products from brokers and landlords.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “With fixed rate pricing coming under increasing pressure, we’re seeing growing interest from brokers and landlords in tracker products as a way of managing costs and retaining flexibility.”
Among the new additions are premier like-for-like and premier like-for-like automated valuation model (AVM) two-year trackers at 75% loan to value (LTV), with rates starting from bank base rate (BBR) plus 0.34%. Designed for landlords refinancing without additional borrowing, both products are available without early repayment charges and benefit from a reduced stress rate of 4.5% or pay rate, which can improve affordability.
Landbay has also introduced a premier AVM two-year tracker at 75% LTV from BBR plus 0.34%, a product transfer premier tracker from BBR plus 0.44%, and new tracker options within its premier small HMO range, with rates starting from BBR plus 0.64%.
Episode 1: First-time buyers : Powered by Partnership podcast from Newcastle for Intermediaries
Sponsored by Newcastle for Intermediaries
Stanton said the additions were intended to widen the options available to brokers across a range of borrower and property types.
He added: “These additions further strengthen our tracker proposition, giving brokers a broader range of options across different property types and borrower circumstances.”
Alongside the launches, Landbay has cut rates by up to 15bps across selected core two-year trackers at 65% and 75% LTV, including product transfer options, as well as specialist small HMO and small MUFB trackers.
Following the reductions, core two-year trackers with no early repayment charges now start from BBR plus 0.29% at 65% LTV and BBR plus 0.49% at 75% LTV, while specialist small HMO and small multi-unit freehold block (MUFB) trackers now start from BBR plus 1.54%.
Stanton continued: “Combined with our latest rate reductions, we’re continuing to provide competitive solutions for landlords operating in a changing market.”
