Landbay has cut buy-to-let rates by up to 0.35% across its Premier, Core and Specialist ranges, with rates now starting from 3.44%. The lender has also launched eight new Specialist products and widened its Tier 2 criteria to accommodate landlords with minor credit blips.
The rate reductions span all three of Landbay's main product tiers. The Premier range, which covers standard and HMO products for borrowers with up to 15 mortgaged properties and is available to individual and limited company landlords, has seen the following changes:
- 2-year fixed 75% LTV products, including Product Transfer and AVM ranges, reduced by 0.15% across 15 products, with rates from 3.44%
- 5-year fixed 75% LTV products, including Product Transfer and Remortgage ranges, reduced by 0.05% across 19 products, with rates from 4.69%
- Small HMO 2- and 5-year fixed products, including Product Transfer options, reduced by up to 0.15% across nine products, with rates from 4.69%
- Assisted Legals 5-year fixed products reduced by 0.07% across 10 products, with rates from 5.67%
The Core range, which supports landlords with portfolios of any size across standard properties for individuals, limited companies and LLPs, and includes AVM options, has been reduced by up to 0.35%. 2-year fixed rates in this range now start from 4.29%, with 5-year fixed rates from 5.04%. Tier 2 criteria have been expanded alongside these cuts to give landlords with minor credit issues more options.
Within the Specialist range, which covers holiday lets, HMOs, MUFBs and trading companies, the reductions are as follows:
- Small HMO and MUFB products, including First Time Landlord and Product Transfer ranges, reduced by up to 0.35%, with 2-year fixed rates from 4.64% and 5-year fixed rates from 5.69%
- Holiday Let products reduced by up to 0.25%, with 2-year fixed rates from 4.69% and 5-year fixed rates from 5.79%
- Trading Company products, including Product Transfer options, reduced by up to 0.15%, with 2-year fixed rates from 4.79% and 5-year fixed rates from 5.84%
Eight new 65% LTV Small HMO and MUFB products have also been launched, including Product Transfer options, expanding the Specialist range's lower-LTV offering.
"While market conditions remain volatile, we're committed to reacting quickly when opportunities arise to improve pricing, helping brokers access lower rates across our Premier, Core and Specialist ranges alongside an expanding product offering," said Rob Stanton, sales and distribution director at Landbay (pictured).
"These latest reductions, together with the launch of new 65% LTV products and the expansion of our Tier 2 criteria, give brokers even more options to support landlords with a wide range of borrowing requirements.
"We know advisers need a combination of competitive pricing, product choice and certainty of service. That's why we're continuing to invest across our range, helping brokers place both straightforward and more specialist buy-to-let cases with confidence."
