The lender has also brought out a standard two-year fixed rate at 75 per cent loan to value (LTV) with a six per cent fee.
Highlights of the range include its standard two-year fixed rate at 55 per cent LTV falling from 4.69 per cent to 4.19 per cent. It comes with seven per cent fee.
Its small houses in multiple occupation (HMO) two-year fixed rate at 75 per cent LTV has decreased from 5.39 per cent to 5.19 per cent. It is subject to a six per cent fee.
The lender’s two-year fixed rate for small multi-unit freehold blocks (MUFB) has gone down from 5.39 per cent to 5.19 per cent. It comes with a six per cent fee.
The firm’s like-for-like remortgage standard two-year fixed rate at 75 per cent LTV with seven per cent fee has decreased from 4.79 per cent to 4.49 per cent.
Rob Stanton, business development director Landbay, said: “Our most recent survey has shown that shorter fixes are increasing in popularity, as landlords weigh up their options in the current market.
“We’re pleased to answer this demand by not only adding additional two-year products, but by making significant rate reductions across our range, including for those with a like for like remortgage.”
He added: “Having the technology in-house to make these decisions allows us to be incredibly agile and respond to the changing market. Our aim is to give our brokers partners more tools at their disposal to meet the requirements of their clients.
“As remortgage remains a key driver for business, I’m sure the news of rate reductions, in addition to a softer stress test will be very welcome.”
MPowered slashes two, three and five-year fixed rates
MPowered Mortgages has lowered two, three and five-year fixed rates, with cuts of up to 0.12 per cent.
On the two-year fixed rate side, its fee-free product starts at 6.07 per cent for purchase or remortgage.
Three-year fixed rates with a £2,495 fee for purchase start at 5.54 per cent and for remortgage are priced from 5.49 per cent.
Its fee-free version starts at 5.89 per cent and 5.49 per cent for purchase and remortgage.
Within its five-year fixed rate range, purchase rates begin from 5.24 per cent and 5.39 per cent for remortgage with a £1,999 fee.
The fee-free purchase version is priced from 5.44 per cent and 5.49 per cent for remortgage.
Stuart Cheetham, CEO of MPowered Mortgages, said: “At MPowered, we are committed to keeping our rates as affordable as possible for our customers. Given the swap markets are beginning to stabilise for now and with inflation decreasing to 6.7 per cent in August, we are optimistic that a more stable economic landscape will help drive activity in the mortgage market throughout the remainder of the year.
“Borrowers looking to take advantage of these new rates need to seek independent professional advice in order to ensure a comprehensive understanding of the products on offer and how they match up to their requirements.”
