Lender makes fourth reprice in the past couple of weeks
Specialist buy-to-let lender Landbay has announced further rate reductions across its two- and five-year fixed rate products.
Rates on the lender’s two-year fixed standard and like-for-like range have been reduced by 20 basis points (bps), with rates now starting at 4.39%.
The like-for-like range is stress tested at pay rate plus 1%, instead of the standard calculation of pay rate plus 2%.
Both two- and five-year fixed products for small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs), as well as five-year fixed products for trading companies have been reduced by 15bps.
All the products are available with Landbay’s variable fee structure for enhanced affordability and are accessible for intermediaries to view and compare using its upgraded buy-to-let affordability calculator.
“Given that this is our fourth change to rates in just the past couple of weeks, it demonstrates that we don’t shy away from passing on reductions as soon as we can,” said Rob Stanton (pictured), business development director at Landbay.
“We remain agile in the current market and respond to opportunities to make our range as competitive as possible. Having our own technology and broker portal in-house makes this process much more straightforward.
“As landlords of all sizes weigh up their options in the current climate, it’s important that our product range is broad enough to reflect this. This ultimately helps brokers respond to the needs of their clients, especially with tools such as our variable fee structure which helps maximise borrowing potential in the current climate.”