Landbay cuts rates and introduces more green mortgage deals

Rates for its two-year fixed green products at 75 per cent LTV, which it launched in June, will now start from 2.89 per cent down from 2.99 per cent.

The lender has also reduced pricing on five-year fixed rate green products for small portfolio landlords who have a maximum of four properties by up to 21 basis points.

Examples of rate cuts include its product at 65 per cent LTV for properties with an EPC rating of A or B is now 2.94 per cent, down from 3.15 per cent. The rate for a C rated property has fallen from 3.20 per cent to 2.99 per cent.

The newly launched green mortgages include products at 70 per cent LTV including a five-year fixed deal with a rate of 3.09 per cent for properties with an EPC rating of A or B, or a five-year fixed product with a rate of 3.14 per cent for a C rate property.

The lender has also cut rates across its core BTL range, with two-year fixed rates starting from 2.85 per cent.

Paul Brett (pictured), Landbay’s managing director for intermediaries, said that in the two months following its green mortgage launch intermediary interest had been strong, and the 70 per cent LTV products would help meet landlord demand.

He said: “We have also been able to lower rates on most of our core products and will continue to maintain our highly competitive stance in the market to ensure a really strong year has an even stronger finish.”