Rates for deals on small HMO and MUFB of up to six bedrooms or units have fallen by up to 0.3 per cent for two-year fixed rates and 0.2 per cent for five-year fixed rated.
For standard properties, rates have been cut by 0.15 per cent for two-year fixed rates. Rates start from 5.29 per cent with a two per cent fee and 4.79 per cent with a three per cent fee.
The reversions rates have been changed to 3.49 per cent plus the bank base rate for fixed and two-year tracker rate and five per cent plus bank base rate for new applications.
For first-time landlords buying small HMOs and MUFBs up to 75 per cent loan to value (LTV), two-year fixed rates stand at 4.89 per cent with a three per cent fee, down from 5.69 per cent previously.
Two-year fixed rates for small HMOs and MUFBs at 75 per cent LTV have been reduced from 5.99 per cent to 5.79 per cent with a two per cent fee. Its three per cent fee has decreased from 5.79 per cent to 5.59 per cent.
Five-year fixed rates for existing small HMO and MUFBs at 75 per cent LTV with a two per cent fee have gone down from 5.99 per cent to 5.79 per cent. Deals with a three per cent fee have fallen by 5.79 per cent to 5.59 per cent.
Landbay: ‘Lowering rates again’
Rob Stanton (pictured), business development director at Landbay, commented: “We reduced rates on our HMO/MUFBs mortgage products for existing landlords three weeks ago and I’m thrilled to report we have been able to lower rates again.
“It’s also great news that we can reintroduce products for first-time landlords buying small HMO and MUFBs, which applies to properties with up to six bedrooms or units.”
He added: “We continue to watch the markets carefully and keep our rates as competitive as we can. Offering different fee options on our products means brokers can offer choice to landlords with varying financial needs.”
