Landbay is applying reductions of up to 0.30% across its 2- and 5-year fixed rate buy-to-let mortgage ranges.
This latest announcement marks the second rate cut by Landbay within just over a week, prompted by the ongoing fall in swap rates.
The rate cuts include 2-year standard fixed rate mortgages now starting at 4.39% and Like-for-Like remortgage products commencing at 4.49%.
Additionally, rates for small HMOs, MUFBs, first-time landlord HMOs, and trading company products have all been decreased by up to 0.30%.
A notable change in the standard 5-year fixed rate mortgages sees a decrease of 0.1%, with starting rates now at 4.79%.
Landbay’s varied fee structure aims to enhance affordability, and its Like for Like remortgage product offers a stress test at payrate plus 1%, compared to the typical payrate plus 2%.
Rob Stanton (pictured), business development director at Landbay, commented on the reductions: “The money markets are continuing to see swap rates fall, enabling us to lower our rates accordingly.
“We always try to be as competitive as we can and these new rates are the lowest they have been in some time, with many under 5%.”
