Landbay lowers rates while YBS Commercial removes buy to let tiering

Landbay has rolled out new buy to let products and reduced pricing across its Premier range, targeting landlords approaching the end of existing deals or planning new purchases.

The lender has introduced two additional two-year fixed rate options at 75% LTV, offering a 5.24% deal with no fee and an alternative priced at 2.74%, carrying a 5% fee.

Alongside the launches, rates across existing Premier two-year fixes at the same LTV have been cut by 0.5%, with pricing now starting at 4.74% with a 1% fee and stepping down to 3.24% with a 4% fee.

The Premier range is aimed at landlords with portfolios of up to 15 properties and is open to both individual and limited company borrowers.

All product transfer options within the range also benefit from the same reductions.

Landbay’s lower rates

Landbay has also lowered pricing on its like-for-like two-year fixed remortgage only product, designed for borrowers not looking to raise extra capital.

The rate has been reduced by 0.5% to 4.24% with a 2% fee.

Unlike other Premier options, the interest coverage ratio for this product is assessed at the payrate or 4.5%, whichever is higher.

The lender said the structure is intended to help advisers support landlords who need short term affordability without committing to a longer fixed period.

Rob Stanton, Landbay’s sales and distribution director, said: “These product additions to Premier, alongside the rate cuts, reflect where the buy to let market is right now.

“Premier is designed to be straightforward, with clear criteria and keen pricing that works for both individual and limited company landlords with portfolios up to 15 properties.”

YBS Commercial removes BTL tiers

Meanwhile, YBS Commercial Mortgages has removed product tiering across its buy to let, commercial investment and business owner occupier ranges.

That gives, it says, all borrowers access to the same headline rates regardless of loan size.

The change follows the recent launch of new two-year fixed options and means portfolio landlords borrowing between £500k and £20m can now access a five-year fixed rate at 4.10% up to 65% LTV with a 5% fee.

Previously, this pricing was only available on loans of £750k or more.

Angela Norman, the lender’s managing director, said: “We’re really pleased to remove tiering across our product ranges, ensuring that we can offer landlords access to the same competitive rates, no matter what their borrowing goals are.”

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