Landbay launches new five-year BTL products and slashes rates
By Jodie BradleyLandbay has introduced a new limited edition range of standard five-year fixed-rate BTL mortgage products starting at 5.15%, as well as dropping its rates on four standard five-year fixed products by up to 10bps.
Section: Opinion
Rob Stanton, business development director at Landbay (pictured above) believes the updated offering — in conjunction with the lender’s variable fee structure — will help brokers respond to ongoing affordability pressures.
Limited edition standard five-year fixed rates include:
- a 5.15% rate with 70% LTV and a 7% fee
- a 5.35% rate with 75% LTV and a 6% fee
- a 5.55% rate with 75% LTV and a 5% fee
- a 5.75% rate with 75% LTV and a 4% fee
- a 5.95% rate with 75% LTV and a 3% fee
- a 6.15% rate with 75% LTV and a 2% fee
- a 6.15% rate with 75% LTV and a £1,499 fee
Rate reductions on standard five-year fixed rates include:
- a 5.25% rate (was 5.35%) with 65% LTV and a 7% fee
- a 5.25% rate (was 5.35%) with 70% LTV and a 7% fee
- a 5.45% rate (was 5.55%) with 65% LTV and a 6% fee
- a 5.45% rate (was 5.55%) with 70% LTV and a 6% fee
“We are pleased to launch a set of competitive limited edition products which will appeal to the large number of landlords still looking for the certainty of a fixed rate,” said Rob.
“Whether a landlord is looking to maximise their borrowing capacity or minimise product fees, the new range aims to suit differing client appetite and demands.”
Keywords: fixed rates, Rob Stanton, products, rate reduction, Landbay, BTL mortgage, landlord, variable fee structure, affordability
Source: BTL Insider — https://btlinsider.co.uk/landbay-launches-new-five-year-btl-products-and-slashes-rates