Together and Landbay lower BTL mortgage rates

Two specialist lenders, Together and Landbay, have announced rate cuts on their mortgage products, offering relief to landlords and investors.

Together has lowered rates on its unregulated bridging loans, designed to help borrowers buy or renovate residential property.

The new rates apply to loans of more than £100,000, with variable rates on first charge loans at up to 65% LTV being reduced from 0.95% to 0.93% and on second charge from 1.05% to 1.03%.

Together’s director of intermediaries, Tanya Elmaz, said: “We’re pleased to announce our latest rate reductions for our unregulated residential bridging products on both first and second charge.

“The changes will help brokers’ customers – mainly residential property landlords and investors – benefit from lower rates, which will help when it comes to affordability.”

Landbay’s buy to let product range

Landbay has also reduced rates across its buy to let product range, with no fewer than 51 products being affected.

For example, its standard five-year fixed rate products, available up to 75% LTV, are being reduced by up to 0.15%, with rates now starting at 4.39%.

The small HMO/MUFB product range has also seen improvements, with two-year options up to 75% LTV now starting at 3.89%.

Rob Stanton, sales and distribution director at Landay, said: “This extensive round of rate reductions further demonstrates our drive to make our product range as competitive as possible.

“Brokers are supporting their landlord clients with a broad range of requirements and our product range has to reflect this to help them meet those demands.”

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