Buy-to-let (BTL) lender Landbay has introduced new products and rate reductions across its range of small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) fixed rate products.
2-year and 5-year fixed rate products were reduced by up to 0.15%, now starting at 4.34%.
In this range, 2-year products include 65% loan-to-value (LTV) deals at 4.34% (was 4.44%) with a 6% fee, and at 5.94% (was 6.04%) with a 3% fee.
5-year products now include a 5-year 75% LTV fixes at 5.34% (was 5.44%), with a 6% fee, and 6.09% (was 6.24%), with a 3% fee.
For first-time landlords, the range now includes a 2-year fix at 75% LTV, at 5.14% (was 5.24%), with a 5% fee.
The range was also extended, with six additional 5-year fixed rate products at 65% loan-to-value (LTV).
This includes a fixed deal at 5.24% with a 6% fee, and a fixed deal at 5.99% with a 3% fee.
To support brokers and their landlord clients with affordability pressures, the range is available using Landbay’s variable fee structure.
This came the same week Landbay announced rate reductions across its standard 5-year fixed rate product range, with rates reduced by up to 0.06%.
This means the lender has made rate reductions across its full suite of buy-to-let products.
Rob Stanton, sales and distribution director at Landbay, said: “Both HMOs and MUFBs continue to play a critical role in the wider housing mix in the UK, with these landlords providing vital accommodation to the likes of students and young professionals across the country.
“It’s great to be able to seize the opportunity to not only make our range more competitive, but to expand its reach to support both landlords and our broker partners.
“While the HMO/MUFB arena can be complex, our nationwide BDM team are incredibly knowledgeable and have a clear understanding of the nuances and regional differences to best guide and support our clients.
“As the student population continues to increase and demand remains high among young professionals and transient workers, it’s important that lenders play their part to support landlords in this thriving area of the market.”
