Landbay lowers two- and five-year fixed rates
Buy-to-let (BTL) lender Landbay has reduced the majority of its two- and five-year fixed rates by up to 0.1%.
Landbay said that the reductions applied to all of its two-year fixed rates, barring large houses in multiple occupation (HMOs) and multi-unit freehold block (MUFB) and tracker deals.
Pricing for a two-year fixed rate starts from 4.24% at 75% loan to value (LTV) with a 6% fee, a decrease from 4.34%.
Landbay’s two-year fixed rate with a 3% fee at the same LTV tier has decreased from 5.99% to 5.89%.
On the five-year fixed rate side, its five-year fixed rate at 75% LTV with a 7% fee is 4.74%, which is a decrease from 4.84%. Its no-fee version at the same LTV tier has gone down from 6.49% to 6.39%.
At 55% LTV, its two-year fixed rate with a 5% fee has gone down from 4.54% to 4.44%, while its five-year fixed rate equivalent has decreased from 5.09% to 4.99%.
In its five-year fixed rate range, large HMO and MUFB products and two standard five-year fixed rates with a £1,299 fee and 2% fee have been cut by 0.5%.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Even in the current climate, fixed rate deals remain the product of choice for the majority of landlords. We’re pleased to help brokers answer this demand with a reduction on our two-year and five-year fixed products.
“Making sure our products are as competitive as possible and cover all bases ensures brokers are in the best possible position to answer any demand in the market.”
In May, the lender added two-year fixed rates to its like-for-like remortgage range, with pricing starting at 4.54% with a 5% fee at 65% LTV.
The move came after Landbay lowered its stress testing for like-for-like remortgages, with the stress test now being the pay rate instead of the pay rate plus 2%.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
