Return follows withdrawal after the mini-budget
Buy-to-let specialist lender Landbay has brought back its green five-year fixed rate range, while launching two new mortgages and reducing rates on others.
The green range for properties with an EPC rating of A-C was withdrawn following the mini-budget last September.
Announcing the news, Rob Stanton (pictured), business development director at Landbay, said there had been less green buy-to-let mortgages in the market recently.
“We want to encourage landlords to upgrade property to at least a C rating in preparation for forthcoming legislation and to make homes more energy efficient,” he commented.
“Our product development team has also been busy designing new products and reducing rates on existing ones giving our intermediary partners and their landlord clients more choice. The two and five-year fixed rates are equally as popular at the moment and by offering a range of rates and fees it is easier for landlords to pass stress tests.”
Green rates have a 0.10% reduction off Landbay’s competitive five-year standard products and there are five options at 75% LTV, starting at 4.69% with a 5% fee.
The 4.89% green rate comes with a 4% fee, 5.09% has a 3% fee and the 5.29% option offers a fee choice of either 2% or £1,999.
A new standard two-year fixed rate mortgage has been introduced at 4.19% and for small HMO/MUFB the two-year fix is 4.25%. Both products have an LTV of 75% and a 4% fee.
Meanwhile, rate reductions have been made on two standard five-year fixed rate products with a 3% fee. The 55% LTV product is down to 4.99% from 5.09% and the 65% LTV is now 5.09%, down from 5.14%.
Based in London and FCA-regulated, Landbay is an award-winning mortgage platform that prides itself on being carbon neutral.
