Landbay trims five-year fixed rates

Buy-to-let lender, Landbay, has announced further rate reductions across its standard five-year fixed rate product range, with rates reduced by up to six basis points.

The product range now starts at 4.65% and is stressed at pay rate. Alongside a reduction in rates, adjustments to the minimum loan size have been made.

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

Five-year fixed rates now start from 4.65% at 55% LTV with a 7% fee, 4.69% at 70% LTV with a 7% fee, and 4.89% at 75% LTV with a 6% fee.

Rob Stanton, sales and distribution director at Landbay, said: “Our most recent landlord survey identified growing popularity around five-year fixed rates, with 51% of respondents reporting that they will choose this product when they next come to remortgage. Following this research, it’s great to be able to reduce rates once again across our five-year fixed rate product range.

“Over the past few weeks, we have shown we’re not shy to re-price products when the opportunity presents itself. We are always assessing the market, listening to customers and looking at how we can make our range as competitive as possible to support both our broker partners and their landlord clients.”