"As soon as it is possible for us to do so, our priority is to reduce rates and pass these down to landlords"
Rates have reduced by 0.20% on its two-year and five-year fixes for both HMOs and MUFBs, with rates now starting at 5.04%. In addition to reductions to its standard two-year fixed rates, its two-year like-for-like remortgage range has also been reduced and now starts at 4.19%.
Alongside reductions, Landbay has also expanded its limited edition range with new five-year fixed rate products at 65% LTV and a maximum loan amount of £1.5 million. These products are available with Landbay’s variable fee structure to accommodate differing borrowing requirements and appetite to fees.
For small HMOs/MUFBs, a two-year fix at 75% LTV starts at 5.04% and a five-year fix at 75% LTV has reduced to 5.79%, both with a 6% fee.
Limited edition five-year fixed rates at 65% LTV have launched at 5.05% with a 7% fee and 5.85% with a 3% fee.
Like-for-like remortgage products include two-year fixed rates at 4.19% up to 55% LTV and 4.44% at 75% LTV, both with a 7% fee. This range features a reduced stress test of payrate + 1% or 5.5%, whichever is greater.
Standard two-year fixed rates are now available from 4.69% at 55% LTV and 4.99% at 75% LTV, both with a 6% fee.
Rob Stanton, business development director at Landbay, said: “As soon as it is possible for us to do so, our priority is to reduce rates and pass these down to landlords and our broker partners. Having our own technology and in-house broker portal is critical in achieving this so quickly. Following reductions last week, we’re delighted to be making further moves to support brokers and ensure our product range remains highly competitive.”
