Buy-to-let lender, Landbay, has announced rate reductions of up to 0.25% across its premier, core and specialist product ranges.
Premier standard two-year fixed rate products available up to 75% LTV have reduced by 0.10%, with rates now starting at 3.39%. Reductions also include both product transfer and like-for-like options.
Alongside new rates, Landbay has also added a new product to the premier range with a new standard two-year fixed rate option, available at up to 75% LTV with just a 1% fee. Rates for this product start at 4.89%. The premier range is designed for landlords with up to 15 properties in limited company SPVs.
In the core range, which is designed for portfolio landlords with options for limited company structures, standard two-year 75% LTV fixed rate products – including product transfer options - have also been reduced by 0.10%.
The specialist range has seen the biggest reductions, with small HMO/MUFB products reduced by up to 0.25%. These products are available at 65% and 75% LTV and include product transfers and options for first-time landlords and trading companies.
Meanwhile, holiday let two-year fixed products in the specialist range have been reduced by 0.20%, with rates now beginning at 3.99%.
The news follows reductions earlier this week from Landbay to its five-year fixed rate premier products, with rates cut by up to 0.15%.
The entire Landbay range benefits from a variable fee structure for enhanced affordability, with intermediaries able to view and compare products using the lender’s buy-to-let affordability calculator.
Rob Stanton, sales and distribution director at Landbay, said: “Our activity over the past couple of weeks has demonstrated our commitment to expanding our product range and ensuring our rates remain as competitive as possible. This latest round of sizeable reductions covers our entire range and is designed to provide new and valuable routes for landlords of all shapes and sizes, and the intermediaries looking to support them.
“Activity such as this is critical as landlords across the country continue to capitalise on investment opportunities that still exist in the market. Just as important is the large number of property owners who are set to refinance and are currently reviewing their options. Putting the right products in the hands of expert advisers means they are in the best possible position to support landlords and facilitate transactions.”
