Landbay makes further rate cuts of up to 0.40%

Buy-to-let lender Landbay has announced its second round of rate cuts this week, with two-year rates now starting at 3.94%.

Landbay has cut rates across the standard two-year range by up to 0.35% and across its two and five-year small HMO/multi unit freehold blocks (MUFB) range by up to 0.40%.

Two-year standard rates now start from 3.94% at 65% LTV and 4.09% at 75% LTV with a 6% fee. Two and five-year small HMO/MUFB rates at 75% LTV have reduced to 4.14% and 5.09% respectively with a 6% fee.

It has also cut rates across two-year like-for-like products by up to 0.35%.

Landbay offers 55%, 65% and 75% LTVS and its variable fee structure ranges from 3% to 6%, offering increased affordability.

Rob Stanton, sales and distribution director at Landbay, said: “Following a considerable rate reduction across our five-year fixed range, we are pleased to announce a second round of cuts in the same week. Today’s news strengthens the tools available to our broker partners to meet the broad range of needs across the entire market.

“There’s no question shorter-term fixes remain popular as landlords weigh up their options in the current market. Changes to our HMO/MUFB range also help landlords answer persistent demand in the rental market among students, transient workers and lower-income individuals. Meanwhile, improvements to our like-for-like range are well timed, given the high levels of mortgage maturity still expected across the sector this year.”