Landbay cuts buy-to-let rates by up to 0.70%

Landbay has reduced rates across its fixed rate buy-to-let product range with reductions from 0.30% to 0.70%.

A two-year fixed rate like-for-Like remortgage product has been cut by 40bps and is now available at 4.39% up to 75% LTV.

Standard two-year fixed rates at 75% LTV now start at 5.49%, a 30bps reduction, and small HMO/MUFB five-year fixes at 70% LTV have reduced by 60bps to 5.79%.

Landbay is also reintroducing fixed rate products for trading companies and first-time landlord small HMO/MUFB.

For added affordability, Landbay has variable fee structures so landlords can borrow more money depending on the rate and fee chosen.

Rob Stanton, business development director at Landbay, said: “With swaps rates reducing we are glad to be able to pass on rate reductions as quickly as possible. This will be welcome news for intermediaries and their landlord clients and covers all of our fixed rate deals.

“We have been able to reduce the rates on so many of our products at the same time due to our highly functional broker portal which we built in-house last year. Our expert IT team and technology means we are able to make changes quickly and efficiently.”