Landbay cuts BTL rates, while Aldermore unveils new products

Landbay has unveiled reductions across its buy to let product range, with interest rates falling by as much as 0.25%.

The lender has cut rates on five-year and two-year standard products, and two-year like-for-like remortgage deals by up to 0.25%.

Its two-year small HMO/MUFB products are now 0.10% lower.

‘Make some sizeable reductions’

Landbay’s sales and distribution director, Rob Stanton, said: “We are really pleased to be able to make some sizeable reductions across our product range.

“Being a tech-centred lender enables us to be really agile and respond to both changes and new demands in the market very quickly.

“It’s fantastic to be able to strengthen our like-for-like remortgage range even further, providing a valuable option for those landlords with no changes to their current borrowing requirements.”

Lower stress requirements

He adds: “That’s especially true given its lower stress requirements of just pay rate.

“It’s great for those who want a short-term option in the current market, but still want some stability and security on monthly cost.”

Standard two-year fixed products now begin at 4.04%, and five-year fixed options start from 4.69%, both available up to 75% loan-to-value.

Landbay’s products feature a variable fee structure and can be compared using its buy-to-let affordability calculator.

Aldermore unveils limited edition buy to let products

Meanwhile, Aldermore has launched new limited edition buy to let products with new two-year fixed deals.

They come with a 3% fee for individual and company landlords with single residential investment properties from 5.09% up to 75% loan-to-value.

Multi-property landlords can access similar products from 4.99%.

Mark Gordon, Aldermore’s director of mortgages, said: “We’re constantly reviewing our produce range to ensure we reflect and meet borrowers’ needs.

“We’re pleased to introduce our latest wave of limited-edition products, to back more landlords to go for it in life and in business.”