Buy-to-let lender, Landbay, has reduced rates by up to 20 basis points across products within both its core and specialist ranges.
The core range is available for lending on standard properties for individuals, limited companies and LLPs; it is available to landlords with portfolios of any size and also offers AVM options. Specialist products cover holiday lets, HMO, MUFB and trading companies.
In its core range, five-year fixed rates at 75% LTV has reduced by 0.20% and now start from 4.74%, with two-year rates also down by 0.20% to start from 3.99%.
Specialist 75% LTV HMO/MUFB products are down by 0.10%, with five-year rates now starting from 5.44% and two-year rates from 4.34%.
Landbay has also cut rates on its core product transfer mortgage options. Five-year fixed rates up to 75% LTV are now available from 5.24% and two-year rates from 4.24%.
The cuts follow similar rate reductions announced by the lender earlier this month covering over 50 products within its premier range. Premier is a range of standard and HMO products with up to 15 mortgaged properties, available to both individual and limited company landlord borrowers.
Rob Stanton, sales and distribution director at Landbay, said: “Following the widespread reductions we announced within our premier range earlier this month, we are pleased to be making further cuts across both our core and specialist products. These latest changes mean brokers have access to even more competitive pricing across a wider range of landlord scenarios, wants and needs, whether they are placing straightforward buy-to-let cases or supporting clients with more specialist borrowing needs such as HMOs and MUFBs.
“While market conditions remain fluid, we remain committed to doing everything we can to support brokers and their landlord clients with competitive products, broad lending options and certainty of service. The strength of our proposition lies not only in pricing, but also in the breadth of choice we can offer, and these reductions ensure advisers have access to solutions that can meet the needs of landlords at all stages of their property investment journey.”