Landbay reduces its five-year fixed BTL mortgage rates

Landlords looking for a five-year fixed rate mortgage can benefit from lower rates offered by Landbay.

The specialist buy to let lender has reduced the rates on its standard five-year fixed product range by up to six basis points (0.06%), making them more affordable for landlords.

The product range, which is stressed at pay rate, now starts from 4.65% and has a variable fee structure.

The lender has also made adjustments to the minimum loan size for some products.

‘Growing popularity around five-year fixed rates’

Landbay’s sales and distribution director, Rob Stanton, said: “Our most recent landlord survey identified growing popularity around five-year fixed rates, with 51% of respondents reporting that they will choose this product when they next come to remortgage.

“Following this research, it’s great to be able to reduce rates once again across our five-year fixed rate product range.”

He added: “Over the past few weeks, we have shown we’re not shy to re-price products when the opportunity presents itself.”

Buy to let affordability calculator

Landbay’s five-year fixed products are available for intermediaries to view and compare using the lender’s upgraded buy to let affordability calculator.

Some of the product highlights are:

• Standard 5 Year Fixed 75% LTV 4.89% 6% Fee (previously 4.95%)
• Standard 5 Year Fixed 70% LTV 4.69% 7% Fee (previously 4.75%)
• Standard 5 Year Fixed 55% LTV 4.65% 7% Fee (previously 4.69%).

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