Buy-to-let lender, Landbay, has added new products and reduced two-year fixed rates within its Premier range.
Premier is a range of standard products for landlords with up to 15 properties, available to both individual and limited company landlord borrowers, and features some of Landbay’s most competitive rates.
Offering simplified criteria and pricing for a broader landlord borrower, new two-year fixed rates at 75% LTV have launched from 2.74% with a 5% fee and 5.24% fee-free.
In addition, Landbay has also cut rates on its existing Premier 75% LTV two-year fixed rates by 0.50%, covering its two-year fix with a 1% fee now available at 4.74%, a 2% fee at 4.24%, 3% fee at 3.74%, and 4% fee at 3.24%.
All product transfer product options within the Premier range also benefit from the same rate reductions.
In addition, Landbay has cut the rate on its like-for-like two-year fixed rate remortgage-only product for landlords not seeking to capital raise. The rate has been cut by 0.50% to 4.24%, and comes with a 2% fee.
This like-for-like product is different to others within the Premier range in that its interest coverage ratio (ICR) is stressed at payrate or 4.5% - whichever is higher.
Rob Stanton, sales and distribution director at Landbay, said: “These product additions to Premier, alongside the rate cuts, reflect where the buy-to-let market is right now. Many landlords are coming to the end of deals, or seeking to purchase, and want better value without added complexity, while advisers will be focused on securing competitive pricing in an environment far different to just a couple of years ago.
“By expanding choice at 75% LTV and reducing rates across the Premier range, we are giving advisers more ways to support landlord clients who want flexibility and strong pricing, and with our like for like remortgage-only products, without necessarily having to lock into a longer term.
“Premier is designed to be straightforward, with clear criteria and keen pricing that works for both individual and limited company landlords with portfolios up to 15 properties.
“Extending the same reductions to product transfers is also important, as it helps advisers retain clients and deliver good outcomes at refinance. Our PT process only happens with the involvement of the adviser, and we are here to support advisers in what is lining up to be a very busy year in the buy-to-let market.”
