Landbay has revised its five-year fixed-rate BTL mortgage range with lower LTVs and rates now starting at 4.39%.
The specialist lender re-released the special edition offering earlier this month, having initially launched it in early December 2022.
Landbay has now brought in new LTVs of 55% and 65% on loans up to £1.5m, in addition to its 75% LTV offering which has a new maximum loan size of £1m ([up from £500,000).
The five-year fixed rates are for standard properties and there is a variable fee structure from 2% to 7% on selected products.
“As we settle into 2023, we have again been able to bring mortgage rates down, plus we have expanded our LTV range,” said Paul Brett, managing director of intermediaries at Landbay.
“We are talking a bold step in having products with fees up to 7%, but it is in response to broker feedback for flexibility around the ICR.
“Brokers who understand the BTL market will know which rate/fee combination is right for their clients.
“The choice of rates and fees will allow more landlord borrowers to pass the ICR calculation requirements, especially for basic-rate taxpayers as we lowered the ICR last week to 125% from 140%.”
