Landbay cuts limited edition five-year rates

Landbay has reduced rates across its limited edition standard five-year fixed rate product range by 0.10% with rates now starting at 5.05%.

The lowest rate of 5.05% is available up to 70% LTV with a 7% fee.

At 75% LTV, rates now start at 5.25% with a 6% fee, 5.85% with a 3% fee, and 6.05% with a 2% or £1,499 fee.

Rob Stanton, business development director at Landbay, said: “Being an agile fintech lender means we’ve been able to react quickly to market changes as swap rates have come down.

“As our broker portal has been built in-house and is managed by our own team, we can make systems changes in minutes rather than days or weeks. This means we can stay competitive and move fast when the opportunity to reduce rates arises.

“Our variable fee structure helps intermediaries to find the right product for their landlord clients when assessing affordability. It is easy to compare products using our recently upgraded buy-to-let affordability calculator as you can mix and match different fee and interest rate options as well as product types.”