Landbay has reduced rates across its HMO/MUFB BTL range, and relaunched its products for first-time landlords purchasing HMO/MUFBs.
The lender’s small HMO/MUFB options — for properties with up to six bedrooms/units — have been reduced by 30 basis points for two-year fixes, and 20 basis points for five-year fixes.
The two-year fixed-rate options are now available at 5.39% with a 2% fee, and 4.89% with a 3% fee, while the five-year fixes are offered at 5.79% with a 2% fee, and 5.59% with a 3% fee.
Landbay also lowered pricing by 15 basis points across its two-year fixed-rate options for standard properties, which are now available at 5.29% with a 2% fee, and 4.79% with a 3% fee.
In addition, all reversion rates for both fixed rate and two-year tracker products are down to 3.49% + Bank of England base rate (BBR) for new applications.
Meanwhile, the new HMO/MUFB products for first-time landlords are available at 75% LTV, priced at 5.09% for a two-year fix, and 5.69% for a five-year fix — both options include a 3% fee.
Rob Stanton, business development director at Landbay, commented: “We reduced rates on our HMO/MUFBs mortgage products for existing landlords three weeks ago and I’m thrilled to report we have been able to lower rates again.
“It’s also great news that we can reintroduce products for first time landlords buying small HMO and MUFBs, which applies to properties with up to six bedrooms or units.
“We continue to watch the markets carefully and keep our rates as competitive as we can; offering different fee options on our products means brokers can offer choice to landlords with varying financial needs.”
