Swap rate stability and favourable market conditions drive lower borrowing costs
Three UK lenders — Landbay, Accord Mortgages, and Keystone Property Finance — have announced rate reductions across their product ranges, reflecting increased competition in the mortgage market as swap rates stabilise.
Landbay has cut rates by up to 20 basis points (bps) on its standard two- and five-year fixed rate buy-to-let products. The largest reductions apply to two-year fixed products up to 75% loan-to-value (LTV), with rates starting at 3.59%. This includes products supported by automated valuation models (AVMs).
Meanwhile, five-year fixed rates in the non-portfolio range, designed for landlords with three or fewer mortgaged properties, have decreased by 10bps, now starting at 4.49%.
The rate reductions come shortly after the launch of Landbay’s limited edition remortgage product range.
“Following recent reductions and product launches, it’s great to make further rate cuts across our range,” said Rob Stanton, sales and distribution director at Landbay. “This ensures our offering remains competitive while supporting brokers and landlords with diverse needs.”
Similarly, Accord Mortgages has introduced rate cuts across both its residential and buy-to-let products.
For residential clients, two-year fixed rates have been reduced by up to 30bps, while three- and five-year fixes have seen cuts of up to 15bps and 25bps, respectively. In addition, fees on selected products have dropped from £995 to £495.
A standout product in Accord’s residential range is its £5K Deposit Mortgage for first-time buyers, allowing purchases up to £500,000 with a £5,000 deposit. The five-year fixed rate for this product is now 5.74%, down from 5.79%.
For landlord clients, Accord has reduced rates on selected three-year fixes by up to 0.45%, two-year fixes by up to 35bps, and five-year fixes by up to 20bps. Notable examples include a two-year fixed rate at 5.54%, down from 5.89%, for purchases up to 80% LTV, which comes with a £995 fee and free valuation services. Another option is a three-year fixed rate at 4.69%, down from 4.89%, for remortgages up to 65% LTV, with a £3,495 fee, free valuation, and remortgage legal services.
“We’re thrilled to introduce these changes, which refresh both our residential and buy-to-let ranges – ensuring that we provide the best value possible and demonstrating our ongoing commitment to supporting a wide-range of borrowers with different circumstances or needs,” said Gemma Hyland (pictured right), mortgage product manager for Accord.
Meanwhile, Keystone Property Finance has announced further rate cuts to its two- and five-year fixed ranges. Rates have dropped by five to 15bps on two-year deals and by 10bps on five-year deals. Keystone’s rates now start at 3.29% for standard products, 3.34% for specialist products, and 4.74% for expat buy-to-let options.
“We have seen continued swap rate stability and favourable market conditions and have taken immediate action to support brokers and landlords by repricing,” said Elise Coole, managing director at Keystone Property Finance.
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