Landbay cuts all BTL rates and updates products

The lender has made rate reductions across its range, including on houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) deals.

This includes an improved HMO special edition range, enhancing rates and criteria on HMOs up to six bedrooms with rates starting at 3.35 per cent.

A new large loan £750 cashback product has been added to its five-year 70 per cent loan to value (LTV) deal for loans between £1m and £1.5m is at 3.49 per cent.

And free valuations are available on two and five-year 75 per cent LTV fixed rate remortgage products, again for loans between £1m and £1.5m.

Meanwhile standard two-year fixed rate products now start from only 2.95 per cent, and five-year fixed rate deals start from 3.34 per cent.

Landbay managing director of intermediaries Paul Brett said: “Despite the stamp duty holiday deadline looming on the horizon, the start of the year has seen a tremendous demand for buy-to-let.

“Rents continue to rise and Rightmove reports that demand for rental property is up 20 per cent.

“All of this means that buy-to-let remains a solid medium-term investment and many intermediaries will also be seeing an increase in demand from their landlord clients, particularly those with portfolios.”

Brett said to meet the rising demand the lender had completely refreshed its range.

“Our range now includes products with free valuations, free title insurance, cashback options and special HMO products, so we have a product to fit almost every client’s needs.”