Landbay has launched five new buy-to-let tracker products within its Core and Specialist ranges, giving portfolio landlords and brokers further options as Product Transfers.
Core products are aimed at portfolio landlords, with options for individuals and all limited company structures, while Specialist covers more specialised properties, including HMOs and MUFBs. The new additions include three Core two-year tracker products, alongside new two-year trackers for both Specialist Small HMO and Small MUFB.
Landbay said the launch came directly from increased broker and landlord interest in tracker products, at a time when expectations around future interest rate movements continue to evolve.
None of the products carries early repayment charges, meaning landlord borrowers can benefit from current pricing while retaining the freedom to switch should market conditions change.
- Core: 65% LTV, 3% fee, BBR plus 1.49%
- Core: 75% LTV, 2% fee, BBR plus 2.24%
- Core: 75% LTV, 3% fee, BBR plus 1.74%
- Specialist Small HMO: 75% LTV, 3% fee, BBR plus 1.74%
- Specialist Small MUFB: 75% LTV, 3% fee, BBR plus 1.74%
These new buy-to-let tracker products follow Landbay's launch earlier this week of its Premier Remortgage AVM two-year fixed-rate products, alongside selected rate reductions within its Premier range.
Meeting demand for flexible tracker options
"We have seen a noticeable increase in broker and landlord borrower interest in tracker products over recent months, particularly in terms of securing greater flexibility and especially while there remains uncertainty over the future path of interest rates," said Rob Stanton, sales and distribution director at Landbay (pictured).
"The absence of ERCs is, of course, an important feature of these products because it means landlords do not have to feel locked into a particular rate if market conditions change," he added. "Should fixed rates become more attractive in the future, borrowers have the flexibility to move without penalty."
He continued that PTs remain an important part of the broker-client relationship, giving advice professionals further food for thought when reviewing a client's borrowing needs at the end of a deal, as they decide whether to remain with the existing lender or seek the most appropriate solution elsewhere.
"By expanding our PT offering across both our Core and Specialist ranges, we are providing brokers with further choice in order to help support those refinance conversations," he noted.
