Buy-to-let lender, Landbay, has launched two new two-year trackers and two fee-free five-year fixed rates within its Premier range of products.
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.
The two trackers are both available up to 75% LTV with no early repayment charges. A two-year tracker, for both purchase and remortgage, and a like-for-like remortgage-only tracker, are both available at Bank Base Rate (BBR) plus 0.34% - currently 4.09% - with 3% fees.
Landbay said the new trackers would be attractive to landlord borrowers who believe there is more room for BBR cuts over the next year or two. At last week’s Monetary Policy Committee meeting, members voted to keep Bank Rate at 3.75% by a slim 5-4 margin.
The lender is also launching two new fee-free five-year fixed rate products, available up to 75% LTV. The first is a 5.09% product for both purchase and remortgage, while the second is a remortgage-only 5.14% product which comes with a free valuation.
Rob Stanton, sales and distribution director at Landbay, said: “The markets appear to be pricing in two, possibly three, further BBR cuts over the next year, but in many cases that expectation is already built into fixed rate pricing. Our new two-year trackers are therefore designed for landlords who want to see the full benefit of any base rate cuts if or when they happen. With no early repayment charges, they also give advisers and their clients flexibility to move to a fix if the rate outlook changes.
“Alongside this, we are adding two new zero fee five-year fixes for landlords who prefer longer-term certainty without the cost of upfront product fees. For many remortgage clients, removing fees can materially improve cash flow from the outset. These launches reinforce our focus on giving advisers straightforward options and landlord borrower solutions within the Premier range, now across both tracker and fixed rates, ensuring they are aligned to how landlords are approaching borrowing decisions in the current market.”
