BTL lender Landbay has lowered rates for its standard five-year fixed-rate options and product for small HMOs/MUFBs.
Its standard five-year fixes at 65% and 75% LTV have been cut by up to 20 bps, while 12 products across its two-year and five-year fixed small HMO/MUFB range have been reduced by up to 10 bps (also available at 65% and 75% LTV).
Following these changes, the lender’s standard fixed-rate options are priced from 4.19% for two-year fixes at 75% LTV, and from 4.34% for five-year fixes.
Meanwhile, its small HMO/MUFB two-year fix at 75% LTV is priced from 4.19%, going up to 5.09% upwards for five-year fixes.
Rob Stanton, sales and distribution director at Landbay (pictured above), said: “Following the positive news of a first cut to the base rate since the start of the pandemic, we’re really pleased to be able to respond with a fresh round of rate reductions.
“Even in the current market, five-year fixes are still incredibly popular, while good quality HMOs continue to be in high demand and provide the necessary yields many landlords require.
“Whether it’s introducing new products or making sure our range is as competitive as possible, it’s all part of our commitment to make sure we can support our broker partners in meeting the diverse requirements of their landlord clients.
“While we still cannot predict the path of the base rate or mortgage rates, we can be certain that there is still plenty of opportunities in the BTL sector and lenders like us that are ready and willing to support both brokers and landlords.”
