Landbay cuts HMO and MUFB rates by up to 60bps

Landbay has reduced rates by up to 60 basis points across its range of buy-to-let mortgages for HMOs and multi-unit freehold blocks.

Products are available at 75% LTV and include Landbay’s variable fee structure of between 2% and 3% for increased affordability around the interest coverage ratio (ICR).

For small HMOs/MUFBs, two-year fixed rates start at 5.19% with a 3% fee or 5.69% with a 2% fee, while five-year fixes start at 5.79% with a 3% fee and 5.99% with a 2% fee.

For large HMOs/MUFBs a two-year fix is available at 6.29% with a 2.5% fee.

In addition, new standard two-year fixed rates have been introduced at 4.94% with a 3% fee and 5.44% with a 2% fee, both up to 75% LTV.

Rob Stanton, business development director at Landbay, commented: “With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again.

“Our award winning broker portal, which we built in-house and launched last summer, allows us to make product changes swiftly. This means our rates can reflect what is going on in the money markets almost straight away.”