Landbay adds 80% LTV mortgage products and makes rate reductions – The Intermediary

Buy-to-let (BTL) lender Landbay has launched new 5-year fixed rate products at 80% loan-to-value (LTV) for both standard properties and small houses in multiple occupation (HMOs), alongside a raft of further rate reductions.

The 80% LTV 5-year product for standard properties is available at 6.39% and comes with no product fees; the HMO version is available at 6.59% with no product fees.

Landbay also cut rates on a selection of 2-year and 5-year fixed-rate product ranges.

2-year fixed rate products for small HMO and multi-unit freehold blocks (MUFBs) – including those for trading companies and first-time landlords – have seen a reduction of 0.10%.

Meanwhile, the standard 2-year tracker range has also seen a reduction of 0.10%, with rates now starting at 0.24% plus bank base rate (BBR).

The standard 5-year fixed range also benefits from a 0.05% reduction across both 65% and 70% LTVs.

Landbay’s full product range is available for intermediaries to view and compare using the lender’s BTL affordability calculator.

Rob Stanton (pictured), sales and distribution director at Landbay, said: “Less than two weeks on from our previous round of rate reductions, we are pleased to be able to make further cuts across our product range.

“We are also delighted to be in a position to bring a new product to market that is not only at an attractive and accessible LTV for many landlords but boasts no product fees too.

“We’re fully committed to making improvements at the earliest opportunity to best support our broker partners and their clients.

“Positive news late last week on inflation and further stability on the base rate certainly gave us the scope to reprice.

“As many landlords weigh up their options in the current market, I’m sure news of a reduction in tracker rates will catch their attention.”