As of 28 March, select residential and buy-to-let (BTL) fixed rates will be cut by between 0.02% and 0.12%.
This will apply to purchase and remortgage options, while no changes will be made to the large loan range.
Landbay adds 80% LTVs and reduces rates
BTL lender Landbay has introduced five-year fixes at 80% loan to value (LTV) for standard properties and small houses in multiple occupation (HMOs).
The products have no fees and a rate of 6.39% for standard properties of 6.59% for an HMO.
The lender has also made a number of rate cuts across two- and five-year fixes.
This includes its standard two-year tracker mortgage, which is now 0.44% plus base rate, down from 0.54% plus base rate. This has a 5% fee and is available at 75% LTV.
The corresponding product with a 3% fee has seen a rate cut from 1.64% plus base rate to 1.54% plus base rate.
For small HMO and multi-unit freehold block (MUFB) properties, Landbay has reduced a two-year fix at 75% LTV with a 6% fee from 4.29% to 4.19%. The equivalent option with a 3% fee has been cut from 5.94% to 5.84%.
The standard five-year fix at 70% LTV with a 7% fee has a rate of 4.54%, down from 4.59%, while the standard five-year fix at 65% LTV with a 6% fee has gone down from 4.79% to 4.74%.
Rob Stanton, sales and distribution director at Landbay, said: “Less than two weeks on from our previous round of rate reductions, we are pleased to be able to make further cuts across our product range. We are also delighted to be in a position to bring a new product to market that is not only at an attractive and accessible LTV for many landlords but boasts no product fees too.
“We’re fully committed to making improvements at the earliest opportunity to best support our broker partners and their clients. Positive news late last week on inflation and further stability on the base rate certainly gave us the scope to reprice. As many landlords weigh up their options in the current market, I’m sure news of a reduction in tracker rates will catch their attention.”
The lender also reduced rates earlier this month.
