Landbay cuts BTL rates to sub three per cent

At 60 per cent LTV,  the standard two-year fixed rate has been cut from 3.09 per cent to 2.95 per cent.

Meanwhile at 70 per cent LTV,  the two-year fixed rate has been reduced from 3.19 per cent to 3.09 per cent.

Landbay has also expanded its product range by adding a 70 per cent LTV 3.59 per cent standard five-year fixed rate and reduced the rate for its 75 per cent LTV standard five-year fixed rate from 3.74 per cent to 3.69 per cent.

All new applications will benefit from Landbay’s instant Decision in Principle which the lender claims takes two minutes to complete.

Paul Brett (pictured), managing director of intermediaries at Landbay, said: “Demand for buy-to-let is booming at the moment as investors take advantage of the stamp duty holiday.

“These new lower rates reflect the robust buy-to-let market and help to make it more affordable for investors including those wishing to incorporate their properties into a limited company structure.”