Landbay has reduced rates on its two-year tracker BTL mortgages by up to 90 bps in addition to adding new products to the range.
The two-year tracker products are available for standard property, HMO, MUFB, and trading companies.
All products have a maximum LTV of 75% and no early repayment charges.
The new two-year tracker standard products start at 0.09% plus BBR — currently standing at 5.09% — and comes with a 4% fee.
For small HMO/MUFBs of up to six bedrooms, two-year trackers start from 0.39% plus BBR, taking the rate to 5.39%, again with a 4% fee.
The existing range of two-year trackers have price reductions of 90 bps for standard property and 80 bps for small HMO/MUFBs and trading companies.
Paul Brett, managing director of intermediaries at Landbay (pictured above), commented: “We have seen that two-year term mortgages are being selected by landlords who want to re-evaluate their situation in the nearer term.
“Our tracker products provide flexibility, with an option to move to a lower rate with no early repayment charges if the base rate reduces.
“If the Bank of England base rate continues to rise, landlords have the freedom to exit the tracker whenever they like as they are not tied in.”
