Director highlights brokers' commitment to supporting clients
Specialist mortgage lender Landbay has announced significant rate reductions across its buy-to-let product portfolio, with 51 products being reduced by up to 0.20%.
The adjustments, aimed at enhancing competitiveness in the buy-to-let market, include reductions in rates for standard five-year fixed mortgages, small Houses in Multiple Occupation (HMO) and Multi-Unit Freehold Blocks (MUFB), and products tailored for clients looking to purchase property from within an existing trading company.
The standard five-year fixed-rate mortgage products are available up to 75% loan-to-value (LTV), which have been reduced by as much as 0.15%. Rates now start at 4.39%.
In the small HMO and MUFB product range, two-year fixed-rate options for up to 75% LTV now start at 3.89%. Five-year fixed-rate options have experienced reductions of up to 0.20% across both 75% and 80% LTV products, with rates now beginning at 4.79%.
Additionally, products designed for trading companies, aimed at clients seeking to purchase property through existing corporate entities, have seen a rate reduction of 0.10%. Rates for these products now begin at 4.69%.
Rob Stanton (pictured), Landbay’s sales and distribution director, highlighted the importance of these changes, stating, “This extensive round of rate reductions further demonstrates our drive to make our product range as competitive as possible. Brokers are supporting their landlord clients with a broad range of requirements, and our product range has to reflect this to help them meet those demands.”
Landbay’s new offerings come in the wake of its recent launch of a range of 75% LTV Automated Valuation Model (AVM) products. These include two-year standard options as well as five-year standard products specifically designed for non-portfolio landlords with three or fewer mortgaged properties.
Product examples from Landbay’s updated range include:
- Standard five-year fixed 75% LTV at 4.39% with a 7% fee.
- Standard five-year fixed 75% LTV at 5.39% with a 3% fee.
- Small HMO/MUFB five-year fixed 75% LTV at 4.79% with a 6% fee.
- Small HMO/MUFB five-year fixed 75% LTV at 5.49% with a 3% fee.
- Small HMO/MUFB two-year fixed 75% LTV at 3.89% with a 6% fee.
- Trading Company two-year fixed at 4.69% with a 5% fee.
“We continue to stay close to the market and in close contact with our funders to identify opportunities, as well as areas where we can innovate to answer product gaps and drive efficiencies. Today’s reductions, along with our new AVM range, are fantastic examples of this,” said Stanton.
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