"With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again."
Landbay has reduced rates by up to 60 basis points across its range of buy-to-let mortgages for HMOs and multi-unit freehold blocks.
Products are available at 75% LTV and include Landbay’s variable fee structure of between 2% and 3% for increased affordability around the interest coverage ratio (ICR).
For small HMOs/MUFBs, two-year fixed rates start at 5.19% with a 3% fee or 5.69% with a 2% fee, while five-year fixes start at 5.79% with a 3% fee and 5.99% with a 2% fee.
For large HMOs/MUFBs a two-year fix is available at 6.29% with a 2.5% fee.
In addition, new standard two-year fixed rates have been introduced at 4.94% with a 3% fee and 5.44% with a 2% fee, both up to 75% LTV.
Rob Stanton, business development director at Landbay, commented: “With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again.
“Our award winning broker portal, which we built in-house and launched last summer, allows us to make product changes swiftly. This means our rates can reflect what is going on in the money markets almost straight away.”
