Landbay has introduced rate reductions of up to 0.30% across its product range for buy-to-let mortgages.
The small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) range saw the largest cuts, with rates starting at 5.04% for a 5-year fixed rate product available at up to 75% loan-to-value (LTV).
The limited edition range, which includes Automated Valuation Model (AVM) supported products, has been reduced by 0.20%.
Standard 5-year fixed rate products in this range now start at 4.69% for loans up to 75% LTV.
Trading company products, aimed at landlords purchasing properties through an existing trading company, has seen reductions of up to 0.20%.
Leading products include a limited edition standard 5-year fixed 75% LTV at 5.29% with a 2% fee (previously 5.49%), and another standard limited edition 5-year fixed at 4.69% with a 5% fee (previously 4.89%).
Small HMO/MUFB 5-year fixed rates now start at 5.74% with a 3% fee (previously 5.89%) and at 5.04% with a 6% fee (previously 5.19%).
Trading company 5-year fixed rates are available at 5.79% with a 3% fee (previously 5.94%) and at 5.29% with a 5% fee (previously 5.44%).
Rob Stanton (pictured), sales and distribution director at Landbay, said: “With the great news of a cut to interest rates, we’re pleased to follow suit by announcing further rate reductions across our range including our most popular products.
“With landlords still active in the market and exploring investment opportunities, we want to be supporting our broker partners to help make those purchases happen and ensure they are well positioned to answer any and every demand.
“Alongside rate reductions, we continue to leverage our technology, our talented team and our broad funding model to make sure our product range is competitive and in tune with what the market wants and needs.
“This will continue to be the case as we push on into 2025 as we support a dynamic and resilient buy-to-let market.”
