Buy-to-let lender, Landbay, has launched five new product transfer tracker products within its core and specialist ranges.
Core products are available for portfolio landlords, with options for individuals and all limited company structures, while the specialist range offers flexible products for more specialised properties including HMOs and MUFBs.
The new additions include three core two-year tracker PT products, alongside new two-year trackers for both specialist small HMO and small MUFB.
With no ERCs on any of the products, landlord borrowers can benefit from the current pricing while retaining the freedom to switch should market conditions change.
Within the core range Landbay is launching a 65% LTV product with a 3% fee at Bank Base Rate (BBR) plus 1.49%, and two 75% LTV products, one with a 2% fee and a rate of BBR plus 2.24%, and one with a 3% fee at BBR plus 1.74%.
In its specialist range, Landbay is launching two 75% LTV products with a 3% fee at BBR plus 1.74% for small HMOs and MUFBs.
The new PT trackers follow the launch earlier this week of Landbay’s new Premier remortgage AVM two-year fixed rate products, alongside selected rate reductions within its Premier range.
Rob Stanton, sales and distribution director at Landbay, said: “We have seen a noticeable increase in broker and landlord borrower interest in tracker products over recent months, particularly in terms of securing greater flexibility and especially while there remains uncertainty over the future path of interest rates.
“The absence of ERCs is of course an important feature of these products because it means landlords do not have to feel locked into a particular rate if market conditions change. Should fixed rates become more attractive in the future, borrowers have the flexibility to move without penalty.
“PTs continue to be an important part of the broker-client relationship, giving advice professionals further food for thought when reviewing a client’s borrowing needs at the end of a deal, as they decide whether they should remain with the existing lender on the most appropriate solution.
“By expanding our PT offering across both our core and specialist ranges, we are providing brokers with further choice in order to help support those refinance conversations.”
