Landbay has made a second round of rate cuts this week, with 2-year deals now starting at 3.94%.
Landbay cut rates across the standard 2-year range by up to 0.35%, and across its 2-year and 5-year small houses of multiple occupation (HMOs) and multi-unit freehold blocks (MUFB) range by up to 0.40%.
It also cut rates across 2-year like-for-like products by up to 0.35%.
This will support landlords looking to remortgage, with no change to their borrowing requirements.
Landbay offers up to 55%, 65% and 75% loan-to-values (LTVs), and its variable fee structure ranges from 3% to 6%, offering increased affordability.
Product highlights include a 2-year standard 65% LTV at 3.94% with 6% fee, a 2-year standard 75% LTV at 4.09% with 6% fee, 2-year small HMO and MUFB 75% LTV at 4.14% with 6% fee, as well as a 5-year small HMO and MUFB 75% LTV at 5.09% with 6% fee.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Following a considerable rate reduction across our 5-year fixed range, we are pleased to announce a second round of cuts in the same week.
“Today’s news strengthens the tools available to our broker partners to meet the broad range of needs across the entire market.
“There’s no question shorter-term fixes remain popular as landlords weigh up their options in the current market.
“Changes to our HMO/MUFB range also help landlords answer persistent demand in the rental market among students, transient workers and lower-income individuals.
“Meanwhile, improvements to our like-for-like range are well timed, given the high levels of mortgage maturity still expected across the sector this year.”
