Landbay has lowered standard five-year fixed rates and small houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) rates by up to 0.2%.
The lender said that around 12 products across its two-year and five-year fixed small HMO/MUFB range have been reduced by up to 0.10%. These will be available at 65% and 75% LTV.
Two-year fixed rates in this small HMO and MUFB range will begin from 4.19% at 75% LTV and 4.34% for five-year fixed rates.
Mortgage rates have been cut by as much as 0.20% for standard five-year fixed rate products at 65% and 75% loan to value (LTV). Standard five-year fixed rates up to 75% LTV will start from 4.34%.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “Following the positive news of a first cut to the base rate since the start of the pandemic, we’re really pleased to be able to respond with a fresh round of rate reductions.
“Even in the current market, five-year fixes are still incredibly popular, while good quality HMOs continue to be in high demand and provide the necessary yields many landlords require.”
He added: “Whether it’s introducing new products or making sure our range is as competitive as possible, it’s all part of our commitment to make sure we can support our broker partners in meeting the diverse requirements of their landlord clients.
“While we still cannot predict the path of the base rate or mortgage rates, we can be certain that there is still plenty of opportunities in the buy-to-let sector and lenders like us that are ready and willing to support both brokers and landlords.”
The changes come off the back of Landbay lowered standard fixed rates by up to 0.4% and added two-year fixed rates last week.
The firm has also brought out a non-portfolio buy-to-let range with pricing beginning from 4.39%.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
