Buy-to-let lender, Landbay, has announced a further round of rate cuts by 5bps to 18 Premier products.
The 18 products cover five-year fixed rates, available up to 75% LTV, for both purchase and remortgage including AVM and product transfer options.
Premier is a range of standard and HMO products for borrowers with up to 15 mortgaged properties, available to both individual and limited company landlords, and featuring some of Landbay’s most competitive rates.
Purchase and remortgage products now start from 4.40% with a 5% fee and 5.40% fee-free.
Remortgage products with free valuation have reduced to 4.44% with a 5% fee and 5.44% with no fee.
Product transfer five-year fixes are now available from 4.49% with a 5% fee and 5.29% with a 1% fee.
Landbay has also launched a new two-year tracker product transfer option within Premier, with no ERCs, and available up to 75% LTV. It comes with a 3% fee and is priced at Bank Base Rate plus 0.44%.
The Premier rate cuts follow Landbay’s launch last week of new Premier remortgage AVM products, plus product transfer tracker products within both its core and specialist ranges.
Rob Stanton, sales and distribution director at Landbay, said: “Funding conditions and pricing have continued to improve over recent weeks and, as a result, we have been keen to pass them into our product pricing. While markets remain capable of moving quickly in either direction, the current environment has given us another opportunity to reduce rates across a significant part of our Premier range, building on the changes we made last month to the Premier range but also building on our recent new product launches.
“Alongside competitive pricing, advisers (and their landlord clients) have told us they want greater levels of choice and flexibility, particularly as borrowers continue to review existing portfolios as well as new opportunities. Our focus remains on giving advisers the product options they need to recommend the most suitable solution for each client, whether they are purchasing, refinancing or simply looking to secure a better outcome at product maturity.”
