Landbay has made rate reductions across its buy-to-let (BTL) product range, with rates falling by as much as 0.80%.
The main drop is on first-time landlord houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) 2-year deals, now starting at 4.09%.
Trading company products have also dropped by 0.65%, starting at 4.09%.
Standard and automated valuation model (AVM)-supported 2-year fixed rate products have reduced by 0.35%, now starting at 3.74% at up to 75% loan-to-value (LTV).
2-year small HMO and MUFB products have dropped by as much as 0.60%, now from 3.79% at up to 75% LTV.
For landlords looking to refinance, the product transfer range has been cut by 0.45% on 2-year options.
Key rates now include standard and AVM 2-year 75% LTV with a 2% fee at 5.24%, and with a 5% fee at 3.74%.
Small HMO/MUFB 2-year 75% LTV with a 2% fee is now 5.39%, and with a 5% fee is 3.89%.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Making such a large cut across our BTL product range demonstrates our commitment to making sure our product range is competitive as possible for brokers and their landlord clients.
“We have seen a lot of positive drivers in the market recently, whether it’s swap rates or the cut to the Bank of England base rate, which have given us a great opportunity to reassess our pricing.
“It’s great to be able to share those across our product range, including in-demand products such as our HMO/MUFB offerings, our two-year options and our highly popular product transfer range.”
Stanton added: “We’ll continue to stay close to the market to identify any future opportunities – whether that’s in terms of rates or further product innovation.”
