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

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

 

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 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.”