Landbay cuts the rates on its buy to let products

Landbay cuts the rates on its buy to let products

0:02 AM, 1st November 2023, About 6 months ago 1

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Landlords looking to buy or remortgage properties can benefit from lower rates and more choices from Landbay.

That’s because the specialist buy to let lender has made more than 80 changes to its product range, including rate reductions of up to 0.20% across various products.

Landbay offers products for standard properties, small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).

These products have different loan-to-value (LTV) ratios and fixed terms.

For example, a standard two-year fixed product with 55% LTV starts from 4.09%, while a small HMO/MUFB five-year fixed product with 75% LTV starts from 5.89%.

‘Reduce rates across our product portfolio’

The lender’s business development director, Rob Stanton, said: “As swap rates continue to fall, we have once again been able to reduce rates across our product portfolio.

“We are in the fortunate position to be able to make these changes quickly.”

He added: “It is a competitive market out there and we want to offer viable solutions to intermediaries and their landlord clients for both property purchase and remortgaging.

“This is not just for standard property but also HMOs and MUFBs as well as trading companies.”

Remortgage products for landlords

Landbay also has Like for Like remortgage products for landlords who do not want to change their borrowing requirements and these products have lower interest rate stress tests and rate reductions of up to 0.20%.

For instance, a Like for Like standard two-year fixed remortgage product with 70% LTV starts from 4.34%.

In addition, Landbay has cut the rate on its Trading Company product range by 0.20% for landlords who operate their properties through a limited company.

All products have a variable fee structure, and the five-year fixed rates are stressed at payrate.

Landbay’s two and five-year fixed products

Examples of Landbay’s two and five-year fixed products:

  • Standard two-year fixed 55% LTV starting from 4.09%
  • Standard two-year fixed 75% LTV starting from 4.89%
  • Small HMO/MUFB two-year fixed 65% LTV starting from 4.64%
  • Small HMO/MUFB two-year fixed 75% LTV starting from 4.94%
  • Small HMO/MUFB five-year fixed 55% LTV starting from 5.99%
  • Small HMO/MUFB five-year fixed 75% LTV starting from 5.89%

Like for Like standard two-year fixed remortgage products

  • 65% LTV starting from 4.64%
  • 70% LTV starting from 4.34%

For assistance with any type of buy to let (BTL), property or commercial finance please complete the contact form below:

Contact Brooklands Commercial Finance

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Comments

JaSam

11:40 AM, 2nd November 2023, About 6 months ago

And I’ll say it again, review your fees!

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