It has also added a new 55% LTV range
Specialist buy-to-let lender Landbay has announced rate cuts to its standard five-year fixed rate products, with a 10 basis point decrease across the entire range.
The standard five-year fixed range now starts at 4.85%, with all products stressed at payrate and available through Landbay’s variable fee structure.
The product range, with varying loan-to-values (LTVs), can accommodate loan sizes from £30,000 up to £1.5 million to support brokers in finding a product that fits the needs of their landlord clients.
Aside from rate reductions, Landbay has also added a new 55% LTV range, with rates starting at 4.85%.
Brokers can view and compare all available products using Landbay’s upgraded buy-to-let affordability calculator.
“Responding quickly to changes in the market remains an absolute priority for us as we look to support brokers through a broad and competitive range of products,” remarked Rob Stanton (pictured), business development director at Landbay. “Having the technology and ability in house to react at pace is a key component in making this a reality.
“As affordability remains a challenge for both brokers and borrowers, we firmly believe mechanisms such as our variable fee structure present a valuable proposition. While it may not suit all appetites, it’s a great way to for brokers to maximise the borrowing potential of their clients in a difficult climate. Combine this with the stress test at payrate, a range of LTVs, and acceptable loan sizes, we believe the range helps brokers support their clients.”
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