0:06 AM, 2nd August 2024, About 2 years ago
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Buy to let lender Landbay has announced rate reductions and new product launches to support landlords.
It has cut rates by up to 0.40% on standard two-year fixed products available up to 75% loan-to-value (LTV), with reductions of up to 0.30% for 55% LTV options.
The firm has also introduced two new standard two-year fixed products: one at up to 55% LTV with a 3% fee and another at up to 75% LTV with a 2% fee.
Landbay’s non-portfolio range of five-year fixed rate products, launched last week, has also seen a 0.15% rate reduction. These products are available to landlords with three or fewer mortgaged properties.
The lender’s sales and distribution director, Rob Stanton, said: “We are really pleased to be able to make further cuts across our product range, as well as launch two brand new products.
“We always pride ourselves on our ability to move quickly and make any necessary cuts as soon as possible to help our broker clients support landlords across the country.”
He adds: “Two-year fixed rates continue to be a really competitive option for those landlords that don’t want to be locked in for too long, but still want to benefit from some stability.”
Meanwhile, Aldermore has launched new five-year fixed rate products for buy to let customers.
The lender is offering different fee options of 0%, 1.5%, and 5% for individual and company landlords with both single and multi-property residential investment portfolios.
Jon Cooper, Aldermore’s director of property distribution, said: “We’re pleased to be introducing our latest wave of limited edition products to provide landlords with more mortgage choice.
“We’re continually reviewing our mortgage range against the current market to ensure we are providing customers with products that suit their circumstances.”
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