According to the lender, rates start from 1.49% plus Bank base rate (currently 3.5%), up to 75% LTV with a variable fee structure of 2% or 3% to assist with affordability and are available on standard properties, houses in multiple occupation and multi-unit freehold blocks with loan sizes from £100k to £1m.
There is also a standalone discounted tracker range for trading companies on standard, HMO and MUFB up to 75% LTV and a 3% fee.
Products include a standard two-year discounted tracker 1.49% + BBR - 75% LTV - 3% Fee, standard two-year discounted tracker 1.99% + BBR - 75% LTV - 2% Fee, small HMO/MUFB two-year discounted tracker 1.69% + BBR - 75% LTV - 3% Fee, and a small HMO/MUFB two-year discounted tracker 2.19% + BBR - 75% LTV - 2% Fee
Trading companies:
· Standard two-year discounted tracker 1.69% + BBR - 75% LTV - 3% Fee
· Small HMO/MUFB (up to six bedrooms/units) two-year discounted tracker 1.89% + BBR - 75% LTV - 3% Fee
Paul Brett, managing director, intermediaries at Landbay, commented: “It’s been a busy start to the year for our product design team who have been developing new mortgages to provide more choice to brokers and their landlord clients.
“This new range of two-year discounted trackers will appeal to borrowers who are unsure of the future and don’t want to tie into five-year fixes just yet.”
