Landbay cuts non-portfolio rates by 0.25%

Buy-to-let lender Landbay has announced rate reductions across its non-portfolio range of products, with rates falling by 0.25%. 

The non-portfolio range, designed for landlords with three or fewer mortgaged properties, benefits from both AVM and standard valuation options. The five-year fixed rate range starts at 4.09% and is available up to 75% LTV. 

Landbay’s standard five-year fixed rate 55% LTV products have also seen a 0.25% reduction, which now start at 4.19%.

All products feature a variable fee structure for enhanced affordability. 

Intermediaries can view and compare all products using Landbay’s newly enhanced buy-to-let affordability calculator. In its latest update, Landbay has launched a raft of new design and functionality upgrades, including a simplified view to enable intermediaries to view all product details at a glance. Brokers can now input client details to view all eligible products, with products now showing the estimated total cost of the loan over the initial term.

This latest round of rate reductions follows similar action last month, with rates cut across Landbay’s limited edition and product transfer ranges.

Rob Stanton (pictured), sales and distribution director at Landbay, said: “Our recent data has demonstrated the appetite that still exists among landlords to invest in property. As a buy-to-let lender, we’re not doing our job if we’re not making sure we support every corner of the market with relevant products and competitive rates. It’s great to be able to bring reductions to our non-portfolio range, which remains hugely popular as it answers a clear need and demand in the market. 

“For the health and prosperity of the private rented sector, we absolutely need to be supporting landlords of all shapes and sizes, and equipping advisers with the broad product range that enables them to deliver the value that they offer. It presents a great opportunity to check out our enhanced affordability calculator – especially with a whole host of improvements and upgrades made.”