Landbay has made rate reductions across its buy-to-let (BTL) product range, with 51 products being reduced by as much as 0.20%.
Among those reduced are its standard 5-year fixed rate products, available up to 75% loan-to-value (LTV); these have been reduced by up to 0.15%, with rates now starting at 4.39%.
The lender’s small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) product range has also seen improvements, with 2-year options up to 75% LTV now starting at 3.89%.
5-year options received the same reduction of up to 0.20% across both 75% and 80% LTV product ranges; rates now begin at 4.79%.
Trading company products, designed for clients looking to purchase property from within an existing trading company, were reduced by 0.10%, with rates now starting at 4.69%.
All products are available using Landbay’s variable fee structure, and the range can be viewed and compared using the lender’s buy-to-let affordability calculator.
This followed the launch of a new range of 75% LTV automated valuation model (AVM) products, comprising of 2-year standard options, as well as 5-year standard products for non-portfolio landlords with three or less mortgaged properties.
Product examples include: standard 5-year fixed 75% LTV at 4.39% with 7% fee; standard 5-year fixed 75% LTV at 5.39% with 3% fee; small HMO/MUFB 5-year fixed 75% LTV at 4.79% with 6% fee; small HMO/MUFB 5 year fixed 75% LTV at 5.49% with 3% fee; small HMO/MUFB 2-year fixed 75% LTV at 3.89% with 6% fee; Trading Company Standard 2-year fixed @ 4.69% with 5% fee.
Rob Stanton, sales and distribution director at Landay, said: “This extensive round of rate reductions further demonstrates our drive to make our product range as competitive as possible.
“Brokers are supporting their landlord clients with a broad range of requirements and our product range has to reflect this to help them meet those demands.
“We continue to stay close to the market and in close contact with our funders to identify opportunities, as well as areas where we can innovate to answer product gaps and drive efficiencies. Today’s reductions, along with our new AVM range are fantastic examples of this.”
