Landbay announces buy-to-let rate reductions of up to 0.30%
Buy-to-let lender Landbay has announced rate reductions across its product range, with rates cut by as much as 0.30%.
The biggest reductions can be found in Landbay’s popular small HMO/MUFB range, which has seen reductions of up to 0.30%. Rates now start at 5.04% for a small HMO/MUFB five-year fixed rate product, available at up to 75% LTV.
The popular limited edition range, which includes AVM-supported products has been reduced by 0.20%. Within the range, standard five-year fixed rate products, available at up to 75% loan-to-value (LTV), now start at 4.69%.
Trading company products, designed for those landlords looking to purchase property from within an existing trading company, have also seen reductions of up to 0.20%.
This round of rate reductions follows the positive news of a cut to the Bank of England base rate.
Products are available with Landbay’s variable fee structure for increased affordability.
Intermediaries can view and compare products from across the entire range using Landbay’s buy-to-let affordability calculator.
Leading products include:
- Limited Edition Standard 5-year Fixed 75% LTV @ 5.29% with 2% fee (was 5.49%)
- Limited Edition Standard 5-year Fixed 75% LTV @ 4.69% with 5% fee (was 4.89%)
- Small HMO/MUFB 5-Year Fixed 75% LTV @5.74% with 3% fee (was 5.89%)
- Small HMO/MUFB 5-Year Fixed 75% LTV @5.04% with 6% fee (was 5.19%)
- Trading company 5-year Fixed 75% LTV @5.79% with 3% fee (was 5.94%)
- Trading company 5-year Fixed 75% LTV @5.29% with 5% fee (was 5.44%)
Rob Stanton, sales and distribution director at Landbay, said: “With the great news of a cut to interest rates, we’re pleased to follow suit by announcing further rate reductions across our range including our most popular products. With landlords still active in the market and exploring investment opportunities, we want to be supporting our broker partners to help make those purchases happen and ensure they are well positioned to answer any and every demand.
“Alongside rate reductions, we continue to leverage our technology, our talented team and our broad funding model to make sure our product range is competitive and in tune with what the market wants and needs. This will continue to be the case as we push on into 2025 as we support a dynamic and resilient buy-to-let market.”