Landbay expands tracker range and cuts rates

The Core 2-year tracker with no ERCs starts from BBR plus 0.29% at 65% LTV and BBR plus 0.49% at 75% LTV.

The Core Like for Like 2-year tracker starts from BBR plus 1.54% at 75% LTV.

Product transfer Core 2-year trackers starts from BBR plus 1.44% at 65% LTV and BBR plus 1.64% at 75% LTV.

Specialist small HMO and small multi-unit freehold block (MUFB) 2-year trackers at 75% LTV started from BBR plus 1.54%, with no ERCs.

Rob Stanton (pictured), sales and distribution director at Landbay, said: “Recent movements in fixed-rate pricing have again shown why it is important for landlords and their advisers to have access to a broad range of options, rather than assuming a fixed rate will always be the natural choice.

“Trackers can provide a useful alternative, particularly for landlords who value flexibility and do not necessarily want to lock into today’s fixed-rate pricing for a longer period. 

“By adding new Tracker products and reducing existing product rates, we are giving advisers and their landlord borrower clients more options across our Core, Premier, Small HMO and Product Transfer ranges.”

Stanton added: “The reduced stress rate on our Premier Like for Like products is also an important part of this expansion, because affordability can be just as important as headline rate when landlords come to refinance. 

“For eligible borrowers who are not looking to raise additional funds, that 4.5% or pay rate stress test could make a significant difference to the refinancing options available to them.

“Of course, the right choice will depend on the individual landlord and their circumstances, but we want advisers to have a full range of products so they can consider all the different routes available.”

He said: “That is particularly important in a market where the interest-rate outlook remains uncertain and pricing can change quickly.”