Landbay further cuts two and five-year fixed rates by up to 0.20%

Specialist buy-to-let lender Landbay has announced further rate reductions across its two-year and five-year fixed rate products.

Rates on Landbay’s two-year fixed standard and like-for-like range have been reduced by 0.20%, with rates now starting at 4.39%. The like-for-like range is stress tested at pay rate plus 1% instead of the standard calculation of pay rate plus 2% and is suitable for landlords looking to remortgage with no changes to their borrowing requirements.

Meanwhile, both two-year and five-year fixed products for small HMOs and MUFBs, as well as five-year fixed products for trading companies, have been reduced by 0.15%. The changes mean that small HMO and MUFB rates now start from 4.54% fixed for two years and 5.44% fixed for five years, both available at 75% LTV.

All the products are available with Landbay’s variable fee structure for enhanced affordability, and are available for intermediaries to view and compare using Landbay’s upgraded buy-to-let affordability calculator.

Rob Stanton, business development director at Landbay, said: “Given that this is our fourth change to rates in just the past couple of weeks, it demonstrates that we don’t shy away from passing on reductions as soon as we can. We remain agile in the current market and respond to opportunities to make our range as competitive as possible. Having our own technology and broker portal in-house makes this process much more straightforward.

“As landlords of all sizes weigh up their options in the current climate, it’s important that our product range is broad enough to reflect this. This ultimately helps brokers respond to the needs of their clients, especially with tools such as our variable fee structure which helps maximise borrowing potential in the current climate.”