"The combination of these new lower rates, together with competitive loan sizes and LTVs will help landlords to expand their portfolios, or remortgage their existing properties."
The lender's maximum loan size is increasing from £1m to £1.5 million on all standard properties, HMOs and multi-unit freehold blocks (MUFBs).
It has also increased the maximum loan size on new build properties to £750,000 up from £500,000 across its whole range.
Landbay's maximum LTV has increased from 70% to 75% on small HMOs and MUFBs.
In addition, Landbay is decreasing interest rates on standard properties, including new builds. A two-year fixed rate is available at 3.54% up to 75% LTV and five-year fixed rates start from 3.54% up to 60% LTV and 3.74% up to 75% LTV.
Landbay will also continue to offer its lifetime tracker rate with no early redemption charges.
Paul Brett, managing director of intermediaries at Landbay, said: “The buy-to-let market has experienced a strong bounce back since the easing of lockdown restrictions and the combination of these new lower rates, together with competitive loan sizes and LTVs will help landlords to expand their portfolios, or remortgage their existing properties.
"With a combination of low interest rates and the temporary reduction of SDLT, I believe that savvy landlords will exploit this opportunity to the full, which will only be a good thing for the buy-to-let market and everybody in need of private rental accommodation.”
