Buy-to-let (BTL) lender Landbay has cut its fixed rates by as much as 0.2%, it has announced.
The largest reductions apply to Landbay’s two- and five-year fixed non-portfolio mortgages, available to landlords with three or fewer mortgaged properties, at 70% and 75% loan to value (LTV).
This also includes Landbay’s automated valuation model (AVM)-supported range of standard and non-portfolio products, available with either a two- or five-year fixed rate at up to 75% LTV.
The lender has also made changes to its AVM supported range of standard and non-portfolio deals, fixed for either two or five years up to 75% LTV.
Landbay has also cut rates on two- and five-year fixes at 55% LTV by 0.15%.
Examples of the new rates include the two-year fixed standard AVM and standard product at 75% LTV with a 6% fee and rate of 3.79%, while the option with a 2% fee is priced at 5.79%.
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For non-portfolio standard and AVM deals at 75% LTV and fixed for five years, the product with a 6% fee has a rate of 4.59% and the option with a 2% has a rate of 5.39%.
Rob Stanton (pictured), sales and distribution director at Landbay, said: “It’s great to be [in] a position once again where we are moving in the opposite direction to much of the market and bringing forward rate reductions. These are not on niche products either, but across our fixed rate range, including standard products, support for smaller landlords and through our innovative range of AVM products. These have proven incredibly popular thanks to the efficiencies and cost savings they can offer.
“By leveraging our in-house technology and broker portal, along with our close relationships with our funders, we are able to identify opportunities and take action very quickly. This means brokers have access to a competitive range of products to support the many landlords still seizing opportunities and making moves in the current market.”
