Buy-to-let lender Landbay has made reductions to its standard 5-year fixed rate mortgage products, now offering rates as low as 4.65%.
The reduction, translating to a decrease of up to 0.06%, is aimed at enhancing affordability options for landlords.
In this update, the minimum loan size has also been adjusted, further tailoring the products to different borrower requirements.
Key changes in the product range include a standard 5-year fixed 75% LTV at 4.89% with a 6% fee, reduced from 4.95%, a 70% LTV option now at 4.69% with a 7% fee, down from 4.75%, and a 55% LTV mortgage offered at 4.65% with a 7% fee, previously 4.69%.
Rob Stanton, sales and distribution director at Landbay, said: “Our most recent landlord survey identified growing popularity around 5-year fixed rates, with 51% of respondents reporting that they will choose this product when they next come to remortgage.
“Following this research, it’s great to be able to reduce rates once again across our 5-year fixed rate product range.
“We are always assessing the market, listening to customers, and looking at how we can make our range as competitive as possible to support both our broker partners and their landlord clients.”
