Landbay reduces special edition buy-to-let rates

Landbay has made further reductions of up to 30 basis points on its five-year fixed rate special edition buy-to-let mortgage range.

Rates now start at 4.29% and the reductions apply to standard properties with LTVs of 55%, 65% and 75%.

There is a variable fee structure of between 2% and 7% to help with affordability and passing interest coverage ratio (ICR) requirements.

At 55% LTV, rates ow start at 4.29% with a 7% fee or 5.29% with a 2% fee. 65% LTV rates have lowered to 4.34% with a 5% fee and 5.34% with a 2% fee, while 75% LTV rates start at 4.79% with a 5% fee and 5.39% with a 2% fee.

Rob Stanton, business development director at Landbay, commented: “We are pleased to be able to announce another reduction in our five-year fixed rate special edition range on standard properties.

“The choice of the interest rate and fee combination allows brokers flexibility in working out what is best for their clients especially in calculating the ICR to meet affordability requirements.”