Landbay cuts rates across two-year and five-year fixed products
Buy-to-let lender Landbay has announced another round of rate reductions, with rates cut by up to 0.20% across its standard two-year and five-year fixed rate products.
The full 0.20% reduction has been seen on their standard two-year fixed rate products available up to 75% loan-to-value (LTV), with rates now starting from 3.59%. This also includes two-year fixed products in Landbay’s popular AVM-supported range.
Meanwhile, standard five-year fixed rate products in their non-portfolio range have been reduced by 0.10% and now start at 4.49%. This also includes AVM-supported products, with the non-portfolio range designed specifically for landlords with three or less mortgaged properties.
These rate reductions closely follow Landbay’s launch of a new limited-edition range of eight remortgage products.
Intermediaries can view and compare all of Landbay’s products by using its buy-to-let affordability calculator. Landbay’s variable fee structure is also available to use across the product range for enhanced affordability.
Leading products:
· AVM/Standard 2 Year Fixed 75% LTV @3.59% 6% Fee
· AVM/Standard 2 Year Fixed 75% LTV @5.59% 2% Fee
· AVM/Non-portfolio Standard 5 Year Fixed 75% LTV @4.49% 6% Fee
· AVM/Non-portfolio Standard 5 Year Fixed 75% LTV @5.29% 2% Fee
Rob Stanton, sales and distribution director at Landbay, said: “Following reductions last week and our limited-edition launch this week, it’s great to be able to make further rate cuts across our product range. Not only does it add to the efficiencies and cost savings of our popular AVM range, but it keeps our product range competitive. This is hugely important as we look to help our broker partners support a broad range of landlord requirements, with our successful non-portfolio range being a key example.
“We remain close to the market to identify any further opportunities to expand or improve our offering. Being a tech-first lender with our own in-house broker portal gives us the capability to act very quickly when those opportunities do present themselves, enabling us to best support our brokers and their landlord clients.”
