Its two-year fixed standard and like-for-like range have gone down by 0.2 per cent, with rates beginning from 4.39 per cent.

The like-for-like range is stress tested at pay rate plus one per cent instead of pay rate plus two per cent and is aimed at landlords looking to remortgage with no changes in borrowing needs.

Two and five-year fixed rates for small houses in multiple occupations (HMO) and multi-unit freehold blocks (MUFB) and five-year fixed rates for trading companies have been decreased by up to 0.15 per cent.

Highlights of the range include a standard two-year fixed rate at 75 per cent loan to value (LTV) from 4.39 per cent with variable fees.

Its small HMO/MUFB two-year fixed rate at 75 per cent LTV stands at 4.54 per cent with variable fees and its five-year fixed rate for the same property types at 75 per cent LTV is priced at 5.44 per cent.

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Like-for-like standard two-year fixed rate at 70 per cent LTV start from 4.39 per cent with variable fees and its trading company standard five-year fixed rate at 75 per cent LTV is priced at 5.74 per cent with five per cent fee.

 

Landbay: Fourth change in a fortnight

Rob Stanton, business development director at Landbay, said: “Given that this is our fourth change to rates in just the past couple of weeks, it demonstrates that we don’t shy away from passing on reductions as soon as we can.

“We remain agile in the current market and respond to opportunities to make our range as competitive as possible. Having our own technology and broker portal in-house makes this process much more straightforward.”

He added: “As landlords of all sizes weigh up their options in the current climate, it’s important that our product range is broad enough to reflect this.

“This ultimately helps brokers respond to the needs of their clients, especially with tools such as our variable fee structure which helps maximise borrowing potential in the current climate.”