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Landbay cuts rates for two-year fixed rates

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  • 27/03/2023
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Landbay cuts rates for two-year fixed rates
Specialist buy-to-let lender Landbay had reduced rates across its two-year fixed range by up to 0.14 per cent and added products.

The lender has cut rates by around 0.1 per cent for existing standard, first-time landlord and trading company two-year fixed rate deals.

Mortgage rate reductions have also been applied to trading company small houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) with properties of up to six rooms or units.

Its standard two-year fixed at 75 per cent loan to value (LTV) has fallen from 4.79 per cent to 4.69 per cent. It is subject to a three per cent fee.

Its deal with a two per cent fee is 5.19 per cent, down from 5.29 per cent.

Landbay has cut rates for its small HMOs and MUFBs, including its two-year fixed rate at 75 per cent LTV with a three per cent fee has decreased from 4.89 per cent to 4.75 per cent.

The two per cent fee version at the same LTV has decreased from 5.39 per cent to 5.25 per cent.

The lender has introduced a standard two-year fixed rate at 5.19 per cent. It comes with a £1.449 fee and maximum loan size of £74,999.

Rob Stanton (pictured), business development director at Landbay, said: “We constantly look for ways we can provide competitive products to our intermediary partners and their landlord clients. Any rate reduction is welcome and we are pleased to be able to lower rates in these uncertain times.

“We have seen an increase in landlords opting for two-year fixed rates and these reductions are across our entire two-year range – from standard through to trading companies, first-time landlords, HMOs and MUFBs.”

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