They introduce lower rates and flexible options for brokers and landlord clients
Two UK buy-to-let lenders, Landbay and CHL Mortgages, have unveiled limited edition product ranges, both featuring rate reductions aimed at supporting brokers and their landlord clients.
Landbay has cut rates by 10 basis points (bps) across its new limited edition range, which is available for both purchases and remortgages. The updated range includes eight five-year fixed rate products, starting at 4.59%. These include standard products at up to 75% loan-to-value (LTV) and automated valuation model (AVM)-supported products at up to 65% LTV.
The AVM-backed options promise faster processing times, averaging three times quicker than standard applications. Notable products include a standard five-year fixed rate at 75% LTV with a 5% fee starting from 4.79%, and an AVM-backed five-year fixed-rate at 65% LTV with a 6% fee starting from 4.59%.
Rob Stanton (pictured left), Landbay’s sales and distribution director, said the rate cuts are designed to help brokers provide better options for landlords seeking to expand their portfolios or secure more competitive deals.
“We start the new year with the same ambition to ensure our product range is as competitive as possible and in tune with the demands and needs of the market,” Stanton said.
Meanwhile, CHL Mortgages has launched a new range of two- and five-year fixed rate products for both standard buy-to-let and house in multiple occupation (HMO)/multi-unit freehold block (MUFB) properties.
Rates start at 4.03% for two-year fixes and 4.76% for five-year fixes, with options at 70% and 75% LTV. The HMO/MUFB products cater to properties with up to six bedrooms or units, with rates beginning at 5.56%.
CHL’s range also includes a variety of fee structures, including fee-free options and higher-fee choices to improve rental cover calculations.
“Although swap rates are remaining stubbornly high, we’ve shaved margins to assist brokers and their landlord clients,” said Ross Turrell (pictured right), commercial director at CHL Mortgages.
Want to be regularly updated with mortgage news and features? Get exclusive interviews, breaking news, and industry events in your inbox – subscribe to our FREE daily newsletter. You can also follow us on Facebook, X (formerly Twitter), and LinkedIn.
