In advance of today’s base rate decision, Landbay has reduced rates across its standard fixed BTL product range and launched new products.
The BTL lender has lowered its rates by as much as 0.4% on its 75% LTV standard two-year fixed products, now starting from 4.19%.
Rates have been dropped by up to 0.3% on its 55% LTV standard two-year fixed proposition.
The recently launched non-portfolio range of five-year fixed-rate products, that aim to support landlords with three or less mortgaged properties, have also been cut by 0.15%, now starting from 4.34%.
In addition, Landbay has introduced two new standard two-year fixed options: up to 55% LTV with a 3% fee, and up to 75% LTV with a 2% fee.
“Ahead of today’s base rate decision, we are really pleased to be able to make further cuts across our product range, as well as launch two brand new products,” said Rob Stanton, sales and distribution director at Landbay.
“We always pride ourselves on our ability to move quickly and make any necessary cuts as soon as possible to help our broker clients support landlords all across the country.
“Two-year fixed rates continue to be a really competitive option for those landlords that don’t want to be locked in for too long, but still want to benefit from some stability.
“As landlords try to read the market and best predict the future path of both the base rate and mortgage rates in general, we expect this option to continue to grow in popularity.
“It’s important we help our broker partners in answering this demand.”
The news follows Landbay launched a range of new products and price reductions last week.
