Landbay, TMW and Accord among BTL lenders cutting rates

Several buy to let (BTL) lenders have introduced a fresh round of pricing reductions, cutting fixed rates across standard and specialist ranges as product repricing continues.

Landbay has lowered rates by up to 20bps across its Premier, Core and Specialist lines, covering purchases, remortgages and product transfers.

Within Premier, two- and five-year fixes have fallen by as much as 15bps, including like-for-like remortgages and options carrying free valuation and assisted legal packages.

Its zero-fee five-year fix now sits at 4.95%, down from 5.09%.

Premier range for landlords

A five-year alternative with a 3% fee has reduced to 4.35% from 4.49%, both available to 75% LTV.

Five-year remortgage fixes with assisted legals and free valuations have moved to 4.97%, previously 5.09%, with fixed fees tiered to £750K loan sizes.

The Premier range targets landlords with up to 15 mortgaged properties across individual and limited company structures.

Pricing has also been cut across Core and Specialist products, spanning limited company lending, holiday lets and smaller HMOs and MUFBs.

The lender’s sales and distribution director, Rob Stanton, said: “By cutting rates across our Premier, Core and Specialist, we are giving advisers more scope to place cases competitively, whether they are straightforward or more complex.”

TMW cuts limited company products

The Mortgage Works has repriced selected limited company products, reducing rates by up to 0.20 percentage points.

Highlights include a two-year fixed rate at 3.74% with a 3% fee to 75% LTV, down 0.20%, alongside a £1,495 fee option at 4.74%, reduced by 0.15%.

A five-year fix with no fee has moved to 4.97%, a 0.07% cut.

Switcher rates include a two-year fix at 3.74% with a 3% fee, down 0.05%, and a no-fee alternative at 5.29%, reduced by 0.15%.

A five-year switcher at 4.79% with a £1,495 fee has fallen by 0.05%.

The firm’s Keir Fraser said: “The Mortgage Works has been supporting the limited company buy to let market since 2018.

“We’re delighted to be making these latest rate cuts as we continue to focus on offering limited company landlords a competitive range of products.”

Accord reprices BTL offering

Accord Mortgages has trimmed buy to let pricing by up to 0.07% across 60%, 65% and 75% LTV tiers.

Remortgage products include a two-year fix at 4.09% with a £995 fee, reduced from 4.16%, and a 3.94% option with a £1,995 fee, previously 4.01%.

Both include free valuation and legal packages.

A five-year purchase fix to 65% LTV has reduced to 4.08% from 4.14%, carrying a £3,495 fee and £500 cashback.

TMW’s product manager for mortgages, Aidan Smith said: “We’re so pleased to make these positive changes improving our buy to let offering for landlords with a larger deposit, ensuring better value across a wide range of options for brokers and their clients.”

Atom boosts commercial mortgages

Atom bank has lowered the entry point for commercial mortgages to £200,000 following broker research into demand for smaller loans.

The lender said more than a quarter of broker enquiries related to sub-£250,000 borrowing, a segment where options were often restricted without wider banking relationships.

Tom Renwick, the head of business lending, said: “This reduction in our minimum loan size is part of our broader mission to constantly refine our commercial proposition – whether through rate reductions, bespoke pricing, or improved criteria – ensuring we deliver both value and efficiency to our partners and their clients.”

MFS enters administration

Meanwhile, Market Financial Solutions Limited has applied to enter administration after a restriction on access to its banking facilities linked to a procedural matter.

The lender said the step protects staff, investors and stakeholders while operations continue under court oversight.

The business remains asset-backed, it said.

Founded in 2006, the firm has delivered more than £1.2 billion in lending, with its loan book peaking at about £2.4 billion.

Founder Paresh Raja said: “This is an extremely difficult moment for everyone connected with Market Financial Solutions.

“The current situation does not reflect a failure of the underlying business or the quality of our assets, but rather a technical and procedural impasse that has temporarily limited our access to everyday banking facilities.”

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