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Complex Buy To Let

Landbay cuts rates by up to 0.19 per cent and launches two products

Anna Sagar
Written By:
Posted:
June 9, 2021
Updated:
June 9, 2021

Buy-to-let lender Landbay has cut the rates on select two-year and five-year fixed products and has launched two products aimed at landlords with three properties or less.

 

The rate changes apply to its two-year fix at 75 per cent loan to value (LTV), which has been cut by 0.19 per cent to 2.95 per cent.

Its five-year fixed at 75 per cent LTV has been reduced by 0.04 per cent to 3.35 per cent. Both products are subject to a 1.75 per cent fee and a free valuation.

The same rate changes have been made on its parallel two and five-year fixed products at 75 per cent LTV but are only subject to a 1.5 per cent fee.

All the above products are available for standard properties only and can be taken out by limited companies and individuals.

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The recently launched products aimed at landlords with three properties or less include a two-year fixed rate at 2.85 per cent at up to 65 per cent LTV. The lender has also brought in a five-year fixed with a rate of 3.25 per cent up to 65 per cent LTV.

Both are available on loans of up to £1.5m.

Landbay’s managing director for intermediaries Paul Brett (pictured) said: “These rates continue to consolidate Landbay’s leading position as a specialist buy-to-let lender, and I am sure there are many brokers out there who will be taking a sigh of relief at being able to offer their clients larger loans that offer added flexibility.”