Landbay makes further reductions on 2- and 5-year BTL mortgage products

Specialist buy-to-let lender Landbay has made further rate reductions across its 2-year and 5-year fixed rate products.

Rates on Landbay’s 2-year fixed standard and like-for-like range were reduced by 0.20%, with rates now starting at 4.39%.

The like-for-like range is stress-tested at pay rate plus 1% instead of the standard calculation of pay rate plus 2%, and is suitable for landlords looking to remortgage with no changes to their borrowing requirements.

Both 2-year and 5-year fixed products for small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), as well as 5-year fixed products for trading companies, were reduced by 0.15%.

The products are available with Landbay’s variable fee structure for enhanced affordability, and are available for intermediaries to view and compare using Landbay’s upgraded buy-to-let affordability calculator.

Product highlights include: standard 2-year fixed 75% loan-to-value (LTV) from 4.39% with variable fees; small HMO and MUFB 2-year fixed 75% LTV from 4.54% with variable fees; small HMO and MUFB 5-year fixed 75% LTV from 5.44% with variable fees; like-for-like standard 2-year fixed 70% LTV from 4.39% with variable fees; trading company standard 5-year fixed 75% LTV at 5.74% with 5% fee. 

Rob Stanton (pictured), business development director at Landbay, said: “Given that this is our fourth change to rates in just the past couple of weeks, it demonstrates that we don’t shy away from passing on reductions as soon as we can.

“We remain agile in the current market and respond to opportunities to make our range as competitive as possible.

“Having our own technology and broker portal in-house makes this process much more straightforward.

“As landlords of all sizes weigh up their options in the current climate, it’s important that our product range is broad enough to reflect this.