Landbay is cutting its rates by up to 0.60% across its range of buy-to-let mortgages for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB).
The loan-to-value (LTV) is 75% for these products and includes Landbay’s variable fee structure of between 2% and 3% for increased affordability around the interest coverage ratio (ICR).
In addition, new standard 2-year fixed rates have been introduced at 4.94% with a 3% fee and 5.44% with a 2% fee, both are up to 75% LTV.
Rob Stanton, business development director at Landbay, said: “With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again.
“Our award winning broker portal, which we built in-house and launched last summer, allows us to make product changes swiftly.
“This means our rates can reflect what is going on in the money markets almost straight away.”
