Specialist buy-to-let lender Landbay has reduced rates across its 2- and 5-year fixed rate products.
The firm announced a 0.20% cut for both Houses in Multiple Occupation (HMOs) and Multi-Unit Freehold Blocks (MUFBs), with starting rates now at 5.04%.
The 2-year like-for-like remortgage range also saw a rate reduction, now starting at 4.19%.
Alongside these rate cuts, Landbay expanded its Limited Edition range. New 5-year fixed rate products have been introduced with a loan-to-value (LTV) ratio of 65% and a maximum loan amount of £1.5m. These products feature Landbay’s variable fee structure.
The changes in Landbay’s product offerings also extend to different fee structures. For instance, a small HMO/MUFB with a 2-year fixed rate at 75% LTV now comes with a 5.04% rate and a 6% fee.
On the other hand, new Limited Edition standard 5-year fixed rate products are available at 5.05% with a 7% fee, or at 5.85% with a 3% fee, both with a maximum loan amount of £1.5m.
Rob Stanton (pictured), business development director at Landbay, said: “As soon as it is possible for us to do so, our priority is to reduce rates and pass these down to landlords and our broker partners.
“Having our own technology and in-house broker portal is critical in achieving this so quickly.
“Following reductions last week, we’re delighted to be making further moves to support brokers and ensure our product range remains highly competitive.”
The lender’s buy-to-let affordability calculator has also been updated, allowing intermediaries to easily view and compare these new product offerings.
