Buy-to-let lender Landbay has reduced rates by up to 0.10% across its limited edition and product transfer ranges.
Cuts to the limited edition range means rates now start at 4.39% for a standard five-year fixed rate up to 70% LTV. The range includes no less than eight products with options for new purchases and remortgage. In addition, the range offers AVM-supported products for greater cost savings and efficiencies, as well as products for small HMO and MUFBs.
For landlords looking to refinance, Landbay has also lowered rates on its new product transfer offering, with a 0.10% cut on its five-year fixed rate products. These now start at 4.44% and are available at up to 75% LTV. Meanwhile, small HMO/MUFB products in the PT range have been cut by 0.05% and now start at 4.94%.
The new rates announced by Landbay are now live with all products benefitting from the lender’s variable fee structure for enhanced affordability. Intermediaries can view and compare all products using Landbay’s buy-to-let affordability calculator.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “As ever, we remain agile in the current market and respond to opportunities to cut rates and ensure our product range is competitive as possible. We continue to demonstrate that we’re not shy of passing on reductions at the earliest opportunity in what is our sixth round of reductions already this year.
“Given how popular our new product transfer range has proven to be, it’s fantastic to be able to bring forward further reductions – including to valuable HMO/MUFB options in the range. Product choice, speed and agility have to be key hallmarks of a lender in the current market – particularly in the buy-to-let sector. Fortunately, our tech-first approach and broad funding model allows us to achieve this.”
