Landbay has launched new 80% LTV five-year fixed-rate products for both standard properties and small HMOs, and made a series of rate cuts across some of its existing BTL suites.
The new 80% LTV options are priced at 6.39% for standard properties and 6.59% for small HMOs, both of which don’t include any product fees.
In addition, Landbay has also lowered rates on a selection of two-year and five-year fixed-rate product ranges.
The lender’s two-year fixes for small HMO and MUFBs — including those for trading companies and first-time landlords — have seen a reduction of 10 bps.
Meanwhile, pricing for the standard two-year tracker range has been lowered by 10 bps, with rates now starting at 0.24% + BBR.
Landbay has also trimmed rates by 5 bps across its standard five-year fixes at 65% and 70% LTV.
Rob Stanton, sales and distribution director at Landbay (pictured above), 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.”
