Landbay is lowering the interest rates on its 2-year fixed rate buy-to-let mortgages.
The reduction will apply to standard properties, houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
The cuts see Landbay’s standard property 2-year 75% loan-to-value (LTV) fixed rate product reduced by 0.10% to 4.89%, at 80% LTV it is reduced by 0.20% to 5.09%.
Its small HMO 2-year 75% LTV fix is reduced by 0.30% to 4.89% while its small MUFB 2-year 75% LTV fix is cut 0.30 to 4.89%.
Earlier in the month the lender reduced rates on its term tracker range by as much as 0.86% across HMOs and MUFBs on both new builds as well as older properties.
Paul Brett (pictured), Landbay’s managing director, intermediaries, said: “Our wide and diverse range of funding enables us to reduce our rates for borrowers when most rates from other lenders continue to rise.
“With the Bank of England widely expected to raise base rate again later this week, we recognise that this is a really important time for landlords and property investors to lock into a lower-cost fixed-rate deal.
“This rate reduction on our 2-year fixed-rate range will enable investors to remove some of the volatility from their costs, providing an element of certainty at this crucial and uncertain time.”
