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Landbay lowers five-year fixed rates and HMO and MUFB deals
Landbay has lowered standard five-year fixed rates and small houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) rates by up to 0.2%.
The lender said that around 12 products across its two-year and five-year fixed small HMO/MUFB range have been reduced by up to 0.10%. These will be available at 65% and 75% LTV.
Two-year fixed rates in this small HMO and MUFB range will begin from 4.19% at 75% LTV and 4.34% for five-year fixed rates.
Mortgage rates have been cut by as much as 0.20% for standard five-year fixed rate products at 65% and 75% loan to value (LTV). Standard five-year fixed rates up to 75% LTV will start from 4.34%.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Following the positive news of a first cut to the base rate since the start of the pandemic, we’re really pleased to be able to respond with a fresh round of rate reductions.
“Even in the current market, five-year fixes are still incredibly popular, while good quality HMOs continue to be in high demand and provide the necessary yields many landlords require.”
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He added: “Whether it’s introducing new products or making sure our range is as competitive as possible, it’s all part of our commitment to make sure we can support our broker partners in meeting the diverse requirements of their landlord clients.
“While we still cannot predict the path of the base rate or mortgage rates, we can be certain that there is still plenty of opportunities in the buy-to-let sector and lenders like us that are ready and willing to support both brokers and landlords.”
The changes come off the back of Landbay lowered standard fixed rates by up to 0.4% and added two-year fixed rates last week.
The firm has also brought out a non-portfolio buy-to-let range with pricing beginning from 4.39%.