Landbay reduces standard five-year fixed rates

Landbay has also launched a new 55% LTV range, with rates starting at 4.85%.

Related topics:  Mortgages,  Buy-to-let
Rozi Jones | Editor, Financial Reporter
19th October 2023
to let sign btl
"Responding quickly to changes in the market remains an absolute priority for us as we look to support brokers"

Landbay has announced rate reductions across its standard five-year fixed rate buy-to-let products, with a 0.10% decrease across the entire range.

The standard five-year fixed range now starts at 4.85%, with all products stressed at payrate and available through Landbay’s variable fee structure.

Five-year fixes are available from 4.85% at 55% LTV with a 7% fee, 4.95% up to 65% LTV with a 7% fee (for loans from £1m to £1.5m), 4.95% at 70% LTV with a 7% fee, and 5.15% up to 75% LTV with a 6% fee.

The product range can accommodate loan sizes from £30,000 up to £1.5 million.

Alongside reductions, Landbay has also added a new 55% LTV range, with rates starting at 4.85%.

Rob Stanton, business development director at Landbay, said: “Responding quickly to changes in the market remains an absolute priority for us as we look to support brokers through a broad and competitive range of products. Having the technology and ability in house to react at pace is a key component in making this a reality.

“As affordability remains a challenge for both brokers and borrowers, we firmly believe mechanisms such as our variable fee structure present a valuable proposition. While it may not suit all appetites, it’s a great way to for brokers to maximise the borrowing potential of their clients in a difficult climate. Combine this with the stress test at payrate, a range of LTVs and acceptable loan sizes and we believe the range helps brokers support their clients.”

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