Landbay, Kensington and Dudley cut landlord BTL mortgage rates

Landlords buying, refinancing or reviewing existing borrowing have been offered lower BTL mortgage rates across standard, HMO, limited company and expat products.

Landbay, Kensington Mortgages and Dudley Building Society have all cut pricing, with the largest reduction reaching 110bps.

Landbay has reduced its rates by up to 17bps across its Premier range, the second round of cuts to those products during June.

Every five-year fixed Premier product for purchases and remortgages has been repriced with options at 75% loan-to-value now start at 4.45%.

Individual landlords and limited companies

The range covers standard properties and HMOs for borrowers with up to 15 mortgaged properties and is available to individual landlords and limited companies.

Five-year fixed remortgage products with a free valuation now start at 4.49% at 75% LTV.

Deals with a fixed fee, free valuation, assisted legal services and cashback begin at 5.39%.

Small HMO rates have fallen to 4.84%, while product transfers for existing Landbay borrowers start at 4.54%. Premier products carry a choice of fees ranging from zero to 5%.

Core mortgages are available on standard properties to individuals, limited companies and limited liability partnerships, with no restriction on portfolio size.

Specialist products cover holiday lets, HMOs, multi-unit freehold blocks and trading companies.

The lender’s sales and distribution director, Rob Stanton, said: “These latest cuts strengthen some of our most popular purchase, remortgage, product transfer and Small HMO options, ensuring brokers have access to highly competitive solutions across a broad range of landlord requirements.”

Kensington cuts rates by 25bps

Kensington Mortgages has cut selected buy to let rates by as much as 25bps across its Prime, Prime eKo, Core, HMO and multi-unit block ranges.

The changes apply at both 75% and 80% LTV.

In the Prime range, two-year fixed rates at 75% LTV now begin at 3.49% with a 5% fee.

Alternatives include 4.14% with a 3% fee and 5.63% without a fee.

Five-year Prime fixes at the same LTV start at 4.59% with a 5% fee.

More BTL mortgage deals

Other options are priced at 4.82% with a 3% fee, 5.12% with a £4,000 fee, 5.22% with a £1,499 fee and 5.34% with no fee.

Rates have also fallen across Kensington’s Prime HMO and multi-unit block products, which are available in England, Scotland and Wales.

Five-year fixes at 75% LTV now include a 4.84% rate with a 5% fee and a 5.09% rate carrying a 3% fee.

Prime eKo products, available on homes with an EPC rating of A, B or C, are priced 5bps below the corresponding standard Prime rates.

Free valuations remain available across Kensington’s residential and buy-to-let products.

Andy Bickers, the commercial director at Kensington, said: “These latest changes to our BTL range strengthen our proposition across a broad range of landlord needs, from standard investment properties through to HMOs and MUBs.”

Dudley BS reduction reaches 110bps

Dudley Building Society has reduced its buy to let and expat mortgage rates by up to 110bps.

The repricing covers purchase and remortgage cases, including two and five-year fixes, discounted products, residential interest-only mortgages and selected landlord deals.

A two-year residential expat mortgage at 75% LTV is now priced at 5.38%, down from 6.30%.

For landlords, Dudley’s five-year BTL fix at 80% LTV has been reduced from 6.40% to 5.63%.

The five-year expat buy to let product at 70% LTV now carries a rate of 5.68%, down from 6.30%.

Dudley’s head of intermediary relations, Paul Purewal, said: “These reductions represent a notable enhancement across a number of our key residential, buy-to-let and expat products, helping brokers access more competitive options for a wide range of clients.”

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