Specialist buy-to-let lender Landbay has announced rate reductions across its 2-year fixed product range by 0.10% and 0.14% and the addition of a new product.
The rate reduction of 0.10% applies to existing standard, first-time landlord, and trading company 2-year fixed rate products, as well as trading company small houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) for properties with up to six rooms or units.
For instance, the standard 2-year fix at 75% LTV is now 4.69% with a 3% fee, down from 4.79%, or 5.19% with a 2% fee, previously 5.29%.
The 0.14% rate reduction is for small HMOs and MUFBs, and these 2-year fixed rate products also have fee and rate options.
Landbay has also introduced a new standard 2-year fixed rate at 5.19% plus a £1,499 fee and a maximum loan size of £74,999.
Rob Stanton (pictured), business development director at Landbay, said: “We constantly look for ways we can provide competitive products to our intermediary partners and their landlord clients.
“Any rate reduction is welcome, and we are pleased to be able to lower rates in these uncertain times.”
Stanton added: “We have seen an increase in landlords opting for two-year fixed rates, and these reductions are across our entire 2-year range – from standard through to trading companies, first-time landlords, HMOs, and MUFBs.”
