Landbay reduces rates by up to 0.80% across BTL products
Landbay has announced significant rate reductions across its buy-to-let product range, with rates falling by as much as 0.80%.
The headline rate reduction comes to Landbay’s popular first-time landlord HMO/MUFB products, with rates across two-year options now starting at 4.09%. Meanwhile, trading company products have seen a 0.65% reduction on rates and now also start at 4.09%.
Both standard and AVM-supported two-year fixed rate products have been reduced by 0.35%. These are available at up to 75% loan-to-value (LTV) and with rates beginning at 3.74%. Rates on two-year small HMO/MUFB products have fallen by as much as 0.60% and now start from 3.79% at up to 75% LTV.
For those landlords looking to refinance efficiently, Landbay has also cut rates on its popular product transfer range. The two-year options in the range have seen reductions of 0.45%.
This round of rate reductions follows action at the start of the month, where Landbay reduced its non-portfolio range and standard five-year fixed rate products by 0.25%.
All products are available using Landbay’s variable fee structure for enhanced affordability. Intermediaries can view and compare all products using the newly enhanced buy-to-let affordability calculator on the Landbay website.
Product highlights:
2-Year Standard and AVM Products: Reduced by 0.35%
- Standard and AVM 2-Year 75% LTV 2% fee: now 5.24%
- Standard and AVM 2-Year 75 LTV 5% fee: now 3.74%
2-Year Small HMO/MUFB Products: Reduced by 0.60%
- Small HMO/MUFB 2-Year 75% LTV 2% fee: now 5.39%
- Small HMO/MUFB 2-Year 75% LTV 5% fee: now 3.89%
Rob Stanton, 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. 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.”