Landbay cuts BTL mortgage rates twice this week

Landbay has reduced its rates for various buy to let mortgages twice in one week, offering more competitive deals for landlords.

The specialist lender has lowered its rates for the standard two-year range by up to 0.35%, and for the two- and five-year small HMO/MUFB range by up to 0.40%.

It has also lowered its rates for the two-year like-for-like range by up to 0.35%, which will benefit landlords who want to remortgage without changing their borrowing amount.

Landbay is offering loan-to-values of up to 55%, 65% and 75%, and a variable fee structure of 3% to 6%, which will increase the affordability of its products.

‘Second round of cuts in the same week’

Landbay’s sales and distribution director, Rob Stanton, said: “Following a considerable rate reduction across our five-year fixed range, we are pleased to announce a second round of cuts in the same week.

“Today’s news strengthens the tools available to our broker partners to meet the broad range of needs across the entire market.”

He added: “There’s no question shorter-term fixes remain popular as landlords weigh up their options in the current market.

“Changes to our HMO/MUFB range also help landlords answer persistent demand in the rental market among students, transient workers and lower-income individuals.

“Meanwhile, improvements to our like-for-like range are well timed, given the high levels of mortgage maturity still expected across the sector this year.”

Buy to let affordability calculator

Landlords can view and compare Landbay’s entire range using its buy to let affordability calculator and some of the product highlights are:

• Two-year standard 65% LTV @3.94% with 6% fee (previously 4.29%)
• Two-year standard 75% LTV @ 4.09% with 6% fee (previously 4.39%)
• Two-year small HMO/MUFB 75% LTV @4.14% with 6% fee (previously 4.54%)
• Five-year small HMO/MUFB 75% LTV @5.09% with 6% fee (previously 5.34%).

Fleet cuts its rates again

Fleet Mortgages has cut rates again on all two-, five- and seven-year fixes across its three core ranges: standard, limited company and HMO/multi-unit block.

The lender has reduced rates by 15 basis points (bps) across these products covering:

• Standard/limited company borrowers – two-year fix up to 75% LTV now at 4.89% from 5.04%; five-year fixes up to 70% LTV now at 4.59% from 4.74% and up to 75% LTV now at 4.99% from 5.14%; Green five-year fix – for properties with an A-C Energy Performance Certificate (EPC) rating – up to 75% LTV now at 4.89% from 5.04%; Green seven-year fix up to 75% LTV now at 4.79% from 4.94%.
• HMO/MUB borrowers – two-year fix up to 75% LTV now at 5.29% from 5.44%; five-year fixes up to 70% LTV now at 4.99% from 5.14% and up to 75% LTV now at 5.33% from 5.48%; Green five-year fix up to 75% LTV now at 5.23% from 5.38%; Green seven-year fix up to 75% LTV now at 5.13% from 5.28%.

All 75% LTV two-, five- and seven-year fixes come with a fee of 3%, with the five-year 70% LTV fixes having a fee of 5%.

The minimum fee level for each product is £750. All products come with a revert rate of Bank Base Rate plus 3% and all end dates have now been extended to the 30 April.

For further information and assistance with any type of property finance please use the contact form below:

Share This Article