Landbay reduces non-portfolio buy-to-let rates

Buy-to-let lender, Landbay, has reduced rates by up to 0.15% across its non-portfolio range of products.

Designed for landlords with three or less mortgaged properties, the reductions are available on non-portfolio standard and AVM-supported five-year fixed rate products. In addition, Landbay has added a new five-year fixed rate option to the range - available at up to 55% LTV, with a rate of 4.84% and a 3% product fee.

Landbay has also added three new standard five-year fixed rate options, also available at up to 55% LTV with rates starting at 4.39%.

All products are available using Landbay’s variable fee structure for enhanced affordability.

The rate cuts follow Landbay introducing both additional borrowing and overpayments to its product transfer offering this week.

Rob Stanton, sales and distribution director at Landbay, said: “Following new innovation in our product transfer range, it’s fantastic to bring to market rate reductions and new products in our ever-popular non-portfolio range. This is an important segment of the market that absolutely needs support from lenders, so it is great to be able to assist our broker partners further in meeting this growing demand.

“Our activity this week is a clear example of our commitment to support the buy-to-let market. Not only are we making sure our products remain competitive, but our product range is broad enough to support landlords of all sizes and can help with both new purchases and refinancing. As ever, we continue to explore every opportunity to improve and expand our range to benefit our broker partners and their landlord clients.”