It launches new products and reduces rates
Specialist buy-to-let lender Landbay has introduced a fresh array of products and lowered rates within its small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) fixed rate offerings.
The adjustments encompass reductions of up to 0.15% on two- and five-year fixed rate products, bringing the starting rates to 4.34%. Furthermore, the range now incorporates six additional five-year fixed rate products at a 65% loan-to-value (LTV).
In response to affordability concerns faced by brokers and their landlord clients, Landbay offers flexibility with its variable fee structure for this product range.
The announcement follows Landbay’s recent rate cuts on its standard five-year fixed rate product range.
The lender’s full product range can now be viewed and compared by intermediaries using the upgraded buy-to-let affordability calculator.
“Both HMOs and MUFBs continue to play a critical role in the wider housing mix in the UK, with these landlords providing vital accommodation to the likes of students and young professionals across the country,” commented Rob Stanton (pictured), sales and distribution director at Landbay. “It’s great to be able to seize the opportunity to, not only make our range more competitive, but to expand its reach to support both landlords and our broker partners.
“As the student population continues to increase and demand remains high among young professionals and transient workers, it’s important that lenders play their part to support landlords in this thriving area of the market.”
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