It also introduces new standard two-year fixed rates
Specialist buy-to-let lender Landbay has lowered rates across its range of buy-to-let mortgages for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) by up to 60 basis points.
The loan-to-value is 75% for these products and includes Landbay’s variable fee structure of between 2% and 3% for increased affordability around the interest coverage ratio (ICR).
Example products up to 75% LTV:
- Small HMO/MUFB two-year fixed with 3% fee at 5.19%
- Small HMO/MUFB two-year fixed with 2% fee at 5.69%
- Small HMO/MUFB five-year fixed with 3% fee at 5.79%
- Small HMO/MUFB five-year fixed with 2% fee at 5.99%
- Large HMO/MUFB two-year fixed with 2.5% fee at 6.29%
The lender also introduced new standard two-year fixed rates at 4.94% with a 3% fee and 5.44% with a 2% fee, both up to 75% LTV.
A complete list of Landbay’s products can be accessed online.
“With swap rates continuing to edge downwards, we have been able to react quickly and reduce rates yet again,” Rob Stanton (pictured), business development director at Landbay, commented. “Our award-winning broker portal, which we built in-house and launched last summer, allows us to make product changes swiftly. This means our rates can reflect what is going on in the money markets almost straight away.”
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