"The four new Specialist Holiday Let Small MUFB products provide brokers and their clients with a greater product range depth in what is a growing sector, as landlords seek to diversify and access those areas of the market that can deliver greater yield and profitability"
- Rob Stanton - Landbay
Buy-to-let lender Landbay has announced rate reductions across its Premier Standard two-year and five-year fixed-rate products of up to 10 basis points. The cuts also cover Product Transfer and like-for-like remortgages.
Premier is a range of standard products for landlords with up to 15 properties. The products are available to both individual and limited company landlord borrowers and feature some of Landbay's most competitive rates.
Offering simplified criteria and pricing for a broader landlord borrower base, Landbay has cut rates on several Premier products. A five-year fixed rate is now available at 4.84%, while a two-year fixed rate is available at 4.79%. Both are available up to 75% LTV with a 1% fee.
A five-year fixed rate is now available at 4.04% with a 5% fee. A two-year fixed rate is available at 3.29% with a 4% fee. Both options are available up to 75% LTV. A like-for-like two-year fixed rate is now available at 4.29%, stressed at 4.5%, with a 2% fee, up to 75% LTV.
Landbay has also launched four new Specialist Holiday Let Small MUFB two-year and five-year fixed-rate products as part of its Specialist range. The new products are all available up to 75% LTV.
Five-year fixed rates are available at 5.49% with a 5% fee and 5.89% with a 3% fee. Two-year fixed rates are available at 4.39% with a 5% fee and 5.39% with a 3% fee.
The lender has introduced a new feature allowing landlord borrowers to make overpayments of up to 5% each year on new applications.
"With all our products offered within the Premier range, our focus is on keeping rates and criteria sharp, while providing more choice for brokers and their landlord borrower clients," said Rob Stanton, sales and distribution director at Landbay (pictured).
"Today we've been able to cut rates further across both two-year and five-year fixes, which come with different fees, delivering a tailored offering for different landlord borrower needs. The four new Specialist Holiday Let Small MUFB products provide brokers and their clients with a greater product range depth in what is a growing sector, as landlords seek to diversify and access those areas of the market that can deliver greater yield and profitability."
"We've also been able to add a 5% overpayment function across our entire buy-to-let mortgage range, which allows clients to benefit from this greater level of flexibility if they have spare money to put towards their mortgage. Overall, we believe these rate cuts, new products and new functionality offer brokers and borrowers an array of different options from Landbay."
"This, at a time when post-Budget certainty means landlords are more likely to be active and taking their next steps, either for new purchases, remortgages or indeed PTs."
