Landbay has reduced buy-to-let (BTL) product rates by up to 0.3%.
The largest reductions have been made to its small house in multiple occupation (HMO) and multi-unit freehold block (MUFB) range, where rates now start at 5.04% for a small HMO or MUFB five-year fix up to 75% loan to value (LTV).
Its limited-edition deals, which include automated valuation model (AVM)-supported lending, have been cut by 0.2%. Rates on the five-year fixes up to 75% LTV start at 4.69%.
Additionally, product rates for landlords purchasing property through an existing trading company have been lowered by up to 0.2%.
Landbay said the rate reductions followed the “positive news” from the Bank of England, which decided to cut the base rate last week.
Rob Stanton, sales and distribution director at Landbay, said: “With the great news of a cut to interest rates, we’re pleased to follow suit by announcing further rate reductions across our range, including our most popular products. With landlords still active in the market and exploring investment opportunities, we want to be supporting our broker partners to help make those purchases happen and ensure they are well-positioned to answer any and every demand.
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“Alongside rate reductions, we continue to leverage our technology, our talented team and our broad funding model to make sure our product range is competitive and in tune with what the market wants and needs. This will continue to be the case as we push on into 2025 as we support a dynamic and resilient buy-to-let market.”
