Landbay reduces standard five-year fixed rates

Landbay has announced rate reductions across its standard five-year fixed rate buy-to-let products, with a 0.10% decrease across the entire range.

The standard five-year fixed range now starts at 4.85%, with all products stressed at payrate and available through Landbay’s variable fee structure.

Five-year fixes are available from 4.85% at 55% LTV with a 7% fee, 4.95% up to 65% LTV with a 7% fee (for loans from £1m to £1.5m), 4.95% at 70% LTV with a 7% fee, and 5.15% up to 75% LTV with a 6% fee.

The product range can accommodate loan sizes from £30,000 up to £1.5 million.

Alongside reductions, Landbay has also added a new 55% LTV range, with rates starting at 4.85%.

Rob Stanton, business development director at Landbay, said: “Responding quickly to changes in the market remains an absolute priority for us as we look to support brokers through a broad and competitive range of products. Having the technology and ability in house to react at pace is a key component in making this a reality.

“As affordability remains a challenge for both brokers and borrowers, we firmly believe mechanisms such as our variable fee structure present a valuable proposition. While it may not suit all appetites, it’s a great way to for brokers to maximise the borrowing potential of their clients in a difficult climate. Combine this with the stress test at payrate, a range of LTVs and acceptable loan sizes and we believe the range helps brokers support their clients.”