Specialist buy-to-let lender Landbay has restricted pricing across its fixed rate product range with reductions from 0.30 to 0.70 percentage points.
Changes include the following:
- Like-for-Like remortgage standard two-year fix at 75% LTV – rates starting at 4.39% (-0.40% reduction)
- Standard two-year fix at 75% LTV rates starting at 5.49% (-0.30% reduction)
- Small HMO/MUFB five-year fix at 70% LTV – rates starting at 5.79% (-0.60% reduction)
Landbay is also reintroducing fixed rate products for trading companies and first-time landlord, small HMO/MUFB.
Meanwhile, for added affordability, Landbay has variable fee structures so landlords can borrow more money depending on the rate and fee chosen.
Rob Stanton (pictured), business development director at Landbay, said: “With swaps rates reducing we are glad to be able to pass on rate reductions as quickly as possible. This will be welcome news for intermediaries and their landlord clients and covers all of our fixed rate deals.
“We have been able to reduce the rates on so many of our products at the same time due to our highly functional broker portal which we built in-house last year. Our expert IT team and technology means we are able to make changes quickly and efficiently.”