Buy-to-let lender, Landbay, has reduced rates by 0.20% across its core five-year fixed rate products, as part of a wider repricing which sees rates cut across a total of 37 five-year fixed rates.
The reductions mean Landbay's core five-year fixed-rate products at 75% LTV are now available from 5.44% with a 6% fee, while a 6.24% option is also available with a 2% fee.
The same reductions and pricing apply to the lender's core AVM five-year fixes.
Landbay has also reduced rates by 25 bps across its core product transfer five-year fixed rate range. Free valuation products are now available from 5.49% with a 6% fee at 70% LTV, 5.74% with a 5% fee at 75% LTV, and 6.24% with a 2.5% fee at 78% LTV.
Alongside the core reductions, Landbay has announced cuts of 0.20% for a number of five-year products within its specialist range.
Specialist small HMO and MUFB five-year fixed rates are available from 6.09% with a 3% fee at 65% LTV, while at 75% LTV, products are available at 6.19% with a 3% fee and 5.79% with a 5% fee.
For first-time landlords looking to finance small HMO or MUFB properties, five-year fixed rates at 75% LTV start from 5.99% with a 5% fee, alongside a 6.39% option with a 3% fee.
Rob Stanton, sales and distribution director at Landbay, said: “Our core range continues to be an incredibly important part of our lending proposition, and we are pleased to be able to announce these latest price reductions across both our standard and AVM five-year fixed rate products. We know that pricing remains a key consideration for advisers and their landlord clients, particularly in the current interest rate environment, and these changes provide further competitive options for those looking to purchase or remortgage investment properties.
“We have also made further reductions across our core product transfer range, with cuts of up to 25 basis points providing additional options for existing Landbay borrowers approaching the end of their current mortgage deals. PTs remain a significant area of focus for us, and we want to ensure advisers have access to competitive products when reviewing the refinancing options available to their landlord clients.
“Alongside core, we have also reduced pricing across a wide selection of our specialist small HMO and MUFB products, including those available to first-time landlords. These reductions mean we can continue to support a broad range of borrowing requirements, whether that involves more straightforward buy-to-let properties or landlords investing in specialist property types.
“These changes also follow our expansion of the core range into Scotland earlier this month, and reflect our continued commitment to developing our lending proposition across the UK.”
