"Both HMOs and MUFBs continue to play a critical role in the wider housing mix in the UK"
- Rob Stanton, sales and distribution director at Landbay
Landbay has announced both new products and rate reductions across its range of small HMO and MUFB fixed rate products.
Two-year and five-year fixed rate products have seen rate reductions of up to 0.15%, with products now starting at 4.34%. In addition, the range has been extended with six new five-year fixed rate products at 65% LTV. To support brokers and their landlord clients with affordability pressures, the range is available using Landbay’s variable fee structure.
New small HMO/MUFB five-year fixed rates are available at 5.24% with a 6% fee and 5.99% with a 3% fee, both up to 65% LTV.
In its existing range, two-year fixed rates now start from 4.34% at 65% LTV with a 6% fee and 5.94% with a 3% fee. At 75% LTV, five-year fixes have reduced to 5.34% with a 6% fee and 6.09% with a 3% fee.
In addition, a two-year fixed rate at 75% LTV for first-time landlords has reduced by 10bps to 5.14%.
It comes in the same week as Landbay announced further rate reductions across its standard five-year fixed rate product range.
Rob Stanton, sales and distribution director at Landbay, said: “Both HMOs and MUFBs continue to play a critical role in the wider housing mix in the UK, with these landlords providing vital accommodation to the likes of students and young professionals across the country. It’s great to be able to seize the opportunity to not only make our range more competitive, but to expand its reach to support both landlords and our broker partners.
“While the HMO/MUFB arena can be complex, our nationwide BDM team are incredibly knowledgeable and have a clear understanding of the nuances and regional differences to best guide and support our clients. As the student population continues to increase and demand remains high among young professionals and transient workers, it’s important that lenders play their part to support landlords in this thriving area of the market.”
