Core products are available for portfolio landlords, with options for individuals and all limited company structures. The specialist range offers flexible products for more specialised properties, including houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
Within the core range, Landbay has launched a 65% loan-to-value (LTV) product with a 3% fee at bank base rate (BBR) plus 1.49%.
It has also announced two 75% LTV products, one with a 2% fee and a rate of BBR plus 2.24% and one with a 3% fee at BBR plus 1.74%.
In its specialist range, Landbay has launched a 75% LTV small HMO product with a 3% fee at BBR plus 1.74%.
In addition to this, it has released a small MUFB product, up to 75% LTV, with a 3% fee at BBR plus 1.74%.
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Landbay said the launch of the new products came directly from increased broker and landlord interest in tracker products. This comes at a time of heightened speculation regarding future interest rate movements.
None of the new products come with an early release charge, which Landbay said allowed for borrower flexibility should interest rates change.
Rob Stanton, sales and distribution director at Landbay, said: “We have seen a noticeable increase in broker and landlord borrower interest in tracker products over recent months, particularly in terms of securing greater flexibility and especially while there remains uncertainty over the future path of interest rates.
“The absence of ERCs is, of course, an important feature of these products because it means landlords do not have to feel locked into a particular rate if market conditions change. Should fixed rates become more attractive in the future, borrowers have the flexibility to move without penalty.
“PTs continue to be an important part of the broker-client relationship, giving advice professionals further food for thought when reviewing a client’s borrowing needs at the end of a deal, as they decide whether they should remain with the existing lender on the most appropriate solution.
“By expanding our PT offering across both our core and specialist ranges, we are providing brokers with further choice in order to help support those refinance conversations.”
