Landbay cuts rates by up to 0.40% and launches new two-year products
Buy-to-let lender Landbay has announced further rate reductions across its standard fixed product range, along with the launch of brand-new products.
The lender has reduced rates by as much as 0.40% on its standard two-year fixed products, available at up to 75% loan-to-value (LTV). Meanwhile, 55% LTV standard two-year fixed options have seen a reduction of as much as 0.30%.
The new non-portfolio range of five-year fixed rate products – launched last week to support landlords with three or less mortgaged properties – has also been reduced by 0.15%.
Alongside reductions, Landbay has launched two new standard two-year fixed options. The first is available at up to 55% LTV with a 3% fee, while the second is up to 75% LTV with a 2% fee.
The news follows the addition of a number of new products to the Landbay line-up last week, as well as reductions of as much as 0.25% across the range. Intermediaries looking to view and compare all of Landbay’s products are able to use its buy-to-let affordability calculator.
Product highlights include:
- Non-portfolio Standard 5 Year Fixed up to 75% LTV rates from 4.24%
- Standard 2 Year Fixed up to 75% LTV rates from 4.19%
- Standard 5 Year Fixed up to 75% LTV rates from 4.34%
Rob Stanton, sales and distribution director Landbay, said: “Ahead of today’s base rate decision, we are really pleased to be able to make further cuts across our product range, as well as launch two brand new products. We always pride ourselves on our ability to move quickly and make any necessary cuts as soon as possible to help our broker clients support landlords all across the country.
“Two-year fixed rates continue to be a really competitive option for those landlords that don’t want to be locked in for too long, but still want to benefit from some stability. As landlords try to read the market and best predict the future path of both the base rate and mortgage rates in general, we expect this option to continue to grow in popularity. It’s important we help our broker partners in answering this demand.”
