Landbay has enhanced its like-for-like remortgage range with new lower stress testing, alongside a raft of new rate cuts.
The revised range — which offers four different two-year fixes — is now stressed tested at pay rate.
The products offer loans between £30,000-£1.5m at maximum 75% LTV on variable fees, with rates starting at 5.24%.
Landbay has also reduced rates by 10 bps across the majority of its product range, including its five-year fixed rates, which now start at 4.74% at 75% LTV.
All products are available for intermediaries to view and compare using the Landbay’s BTL affordability calculator.
Rob Stanton, sales and distribution director at Landbay, said: “We’re still seeing high levels of mortgage maturity in the BTL market, with many landlords making the move onto a higher rate than their current deals.
“While we cannot escape stress testing requirements, we can use the tools at our disposal to help alleviate some of the pressures landlords will face when the affordability calculation is applied.
“This gives the landlords who don’t require any capital raising and want a shorter-term product, the opportunity to do so, due to our enhanced affordability criteria.
“As landlords continue to try and navigate the market and predict the future path of interest rates, we fully expect two-year rates to remain incredibly popular.”
