Landbay refreshes limited edition BTL deals

The rates on four of the five products have been reduced by five basis points and the minimum loan value has decreased to £200,000 from £250,000.

The maximum loan value remains at £500,000.

The refreshed range also caters for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) of up to six bedrooms or units.

Highlights of the rate cuts include:

Standard properties: five-year fixed rate at 65 per cent loan to value priced at 2.94 per cent, down from 2.94 per cent with a 1.5 per cent fee.

Standard properties: five-year fixed rate at 75 per cent LTV priced at 3.04 per cent, down from 3.09 per cent with a 1.75 per cent fee with free valuation

Small HMO: five-year fixed rate at 75 per cent LTV priced at 3.29 per cent, down from 3.34 per cent with a 1.5 per cent fee.

Paul Brett (pictured), managing director, intermediaries at Landbay, said: “Following the initial limited edition launch a month ago, we’ve responded to feedback from the market by lowering the minimum loan size, reducing rates and offering a £500 cashback.”