Landbay and Aldermore cut BTL mortgage rates for landlords

Specialist lenders Landbay and Aldermore have announced reductions in their buy to let mortgage rates, boosting affordability for both new and existing investors.

The moves come amid favourable market conditions, including lower swap rates and the recent Bank of England base rate cut.

Landbay has lowered rates across its entire BTL range, with reductions of up to 0.80%.

First-time landlord products for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) now start at 4.09% for two-year fixed deals.

Transfer range rates lowered

Trading company products have also been cut by 0.65%, aligning with the same starting rate.

Standard and automated valuation model (AVM) two-year fixed products at 75% loan-to-value (LTV) now begin at 3.74%, down 0.35%, while small HMO/MUFB two-year options have dropped by 0.60%, starting at 3.89%.

Landbay’s product transfer range, popular for refinancing, sees two-year options reduced by 0.45%.

All offerings benefit from a flexible fee structure, and intermediaries can explore options via Landbay’s updated affordability calculator.

Landbay BTL range

Rob Stanton, Landbay’s sales and distribution director, said: “Making such a large cut across our BTL product range demonstrates our commitment to making sure our product range is competitive as possible for brokers and their landlord clients.

“We have seen a lot of positive drivers in the market recently, whether it’s swap rates or the cut to the Bank of England base rate, which have given us a great opportunity to reassess our pricing.”

He added: “It’s great to be able to share those across our product range, including in-demand products such as our HMO/MUFB offerings, our two-year options and our highly popular product transfer range.”

Aldermore also lowers its BTL rates

Meanwhile, Aldermore has reduced rates for individual and company landlords with single residential properties.

Two-year fixed rates have been cut by up to 0.20%, starting at 3.49%, with five-year options reduced by up to 0.25%, starting at 4.34%.

Multi-property portfolios see two-year rates drop by 0.20% (from 3.44%) and five-year rates by 0.25% (from 4.29%).

For HMOs and MUFBs, two-year fixed rates are down by 0.30%, starting at 3.69%, and five-year rates by 0.35%, starting at 4.44%.

Existing customers switching products benefit from 0.20% to 0.30% reductions, with rates starting at 5.79% for single properties and 5.89% for HMOs/MUFBs.

Fee options range from zero to £1,999, catering to diverse needs.

Jon Cooper, Aldermore’s director of mortgages, said: “We know it’s a competitive market right now and lenders must be proactive if they want to win business from brokers.

“The latest changes to our BTL range are designed to support landlords at every stage of their journey, from first-time investors to experienced portfolio holders.”

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