Pricing at Landbay now starts from 4.89 per cent at 65 per cent loan to value (LTV) with a six per cent fee, for properties with up to six bedrooms or units. The rate for this mortgage was previously 5.14 per cent.
At 75 per cent LTV, the corresponding mortgage has been reduced from 5.24 per cent to 4.99 per cent.
The range also includes options for first-time landlords and trading company borrowers, with an option priced at 5.39 per cent up to 75 per cent LTV, previously 5.64 per cent, with a five per cent fee.
Rob Stanton, sales and distribution director at Landbay – which recently hired a Midlands business development manager (BDM) – said: “It’s no secret that we take every opportunity to make our product range as accessible as possible for brokers and their landlord clients.
“Our enhanced HMO/MUFB range supports landlords in an important and ever-growing part of the market, especially with a rising student population and the clear challenges facing residential buyers. With support for those operating in trading companies or for first-time landlords looking to purchase an HMO or MUFB, we are really pleased to be able to cover all bases with our reduced rates.”
He added: “As we continue further into the year, we’ll continue to ensure our range remains competitive and provides valuable opportunities for both our broker partners and their landlord clients across the country.”
Pepper Money amends rates
Pepper Money has made adjustments to its mortgage pricing in response to rising swap rates.
All product rates have been increased by 0.25 per cent, and Pepper Money said brokers were being given 48 hours’ notice before removing the previous offering.
Paul Adams, sales director at Pepper Money, said: “Swap rates have been rising in recent weeks and we have held off responding to these changes for as long as possible, but it’s now necessary to increase rates across our range.
“As you would expect from Pepper, we have made sure to give brokers a full 48 hours’ notice ahead of the withdrawal of our previous rates so that they are best-placed to offer customers with certainty. And, while our rates have changed, our inclusive criteria and excellent service remain.”
