Buy-to-let lender Landbay has announced that it has cut rates by up to 15 basis points (bps) on two- and five-year fixed-rate products at 75% LTV.
The reductions lower buy-to-let rates across its Premier range, which covers standard products for landlords with up to 15 mortgaged properties and is open to both individual and limited company borrowers.
Five-year fixed-rate Premier products fall by 15bps, covering Remortgage AVM, Free Valuation, Assisted Legals and Cashback options. Two-year fixes drop by 5bps across Remortgage AVM, Like-for-Like and Product Transfer.
New buy-to-let rates at 75% LTV
Buy-to-let rates on two-year fixes at 75% LTV now start from 4.19% with a 5% fee, while a 6.19% option carries a 1% fee. Five-year fixes start from 5.24% with a 5% fee, and a zero-fee option is available at 6.24%.
Within the remortgage range, two-year AVM fixes start from 4.19% with a 5% fee, and five-year AVM options start from 5.24% with a 5% fee. Five-year remortgage products with a free valuation start from 5.29% with a 5% fee.
Five-year fixed-rate Product Transfer products have fallen by 10bps, with rates at 75% LTV starting from 5.34% with a 5% fee and a zero-fee option at 6.34%. Small HMO two- and five-year fixes, including Product Transfer options, have each come down by 5bps. Two-year rates at 75% LTV start from 5.34% with a 3% fee, while five-year fixes begin at 5.54% with a 5% fee.
Some Premier products are also available in Scotland, including two- and five-year fixes and trackers, as well as remortgage options covering AVMs, Like-for-Like remortgages and Free Valuations, among them deals with £500 cashback. Small HMO products are open to Scottish landlords too.
The lender recently expanded its Scottish offering with a Core range, available across Scotland except Aberdeen, Dundee, Inverness and the Isle of Bute. The Premier cuts follow repricing earlier this week, when buy-to-let rates fell across 37 five-year fixed-rate products in the Core, Core AVM and Specialist ranges.
“Following the reductions we announced across our Core and Specialist ranges earlier this week, we are pleased to be able to make further improvements to our Premier pricing, with cuts across a wide selection of two- and five-year fixed-rate products,” said Rob Stanton, sales and distribution director (pictured).
“Premier remains an important part of our overall buy-to-let proposition, providing highly competitive product options for landlords with more straightforward borrowing requirements. These latest changes give advisers access to improved pricing across a variety of product types, fee structures and mortgage terms, whether their clients are purchasing or remortgaging investment properties.”
He added, “We have also reduced pricing across our Premier Product Transfer and Small HMO products, ensuring existing Landbay borrowers and those investing in smaller HMO properties can benefit from these latest changes. Remortgage and Product Transfer business remain important areas of focus for us, and we want to ensure advisers have a strong selection of options available when reviewing their existing landlord clients’ borrowing requirements.”
“Landbay is committed to both competitive pricing and product choice, and we’ll continue to review our options to ensure they meet the needs of advisers and their landlord clients.”
