Landbay cuts large HMO and MUFB rates
Continuing its run of recent rate reductions, buy-to-let lender Landbay, has trimmed its large HMO and MUFB range, by up to 0.2%.
Landbay’s criteria for large houses in multiple occupation (HMOs) is from seven to 12 bedrooms and large multi-unit freehold blocks (MUFBs) is seven to 12 units.
The competitive new rates are:
- Large HMO 2 Year Fixed 70% LTV – 3.69% down from 3.85%
- Large HMO 2 Year Fixed 75% LTV – 3.79% down from 3.99%
- Large HMO 5 Year Fixed 70% LTV – 3.89% down from 4.09%
- Large HMO 5 Year Fixed 75% LTV – 3.99% down from 4.19%
- Large MUFB 2 Year Fixed 70% LTV – 69% down from 3.85%
- Large MUFB 2 Year Fixed 75% LTV – 3.79% down from 3.99%
- Large MUFB 5 Year Fixed 70% LTV – 3.89% down from 4.09%
- Large MUFB 5 Year Fixed 75% LTV – 3.99% down from 4.19%
Landbay’s managing director, Intermediaries, Paul Brett, commented: “Demand for HMO and MUFB finance has been picking up over the past couple of years as experienced landlords build up and diversify their portfolios.
“These types of property are proving more attractive to landlords as they generate a higher yield than a single dwelling. This is being fuelled by high demand for shared housing and rented property.”
