Complex Buy To Let
Landbay cuts rates by up to 0.19 per cent and launches two products
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.
The growth of ‘just-off-high-street’ lending
Sponsored by Pepper Money
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.”