Landbay cuts rates across core range

The reductions mean Landbay's core five-year fixed-rate products at 75% LTV are now available from 5.44% with a 6% fee, while a 6.24% option is also available with a 2% fee.

The same reductions and pricing apply to the lender's core AVM five-year fixed-rate products, providing advisers and their landlord clients with further options across both standard valuation and AVM products.

Landbay has also reduced rates by 25bps across its core product transfer five-year fixed-rate range.

Free valuation products are now available at 5.49% with a 6% fee at 70% LTV, 5.74% with a 5% fee at 75% LTV, and 6.24% with a 2.5% fee at 78% LTV.

Alongside the core reductions, Landbay has announced cuts of 20 bps for a number of five-year products within its specialist range.

This covers small HMO and MUFB five-year fixed-rate products, including options for first-time landlords, as well as specialist small HMO and MUFB product transfer products.

Following the reductions, specialist small HMO and MUFB five-year fixed rates are available from 6.09% with a 3% fee at 65% LTV, while at 75% LTV, products are available at 6.19% with a 3% fee and 5.79% with a 5% fee.

“We know that pricing remains a key consideration for advisers and their landlord clients, particularly in the current interest rate environment, and these changes provide further competitive options for those looking to purchase or remortgage investment properties,” said Rob Stanton, sales and distribution director at Landbay (pictured above).