Specialist buy-to-let lender Landbay continues to reduce rates, this time by up to 0.10% across all of its five-year fixed-rate products. Many of the rates start below 5% including the 75% LTV range.
Landbay has also increased the maximum loan size on 55% and 65% LTV products to £2m from £1.5m and on 75% LTV mortgages from £1m to £1.5m.
All products include variable fees for enhanced affordability so landlords can borrow more money depending on the interest rate and fee mix.
Products highlights for standard five-year fixed-rates:
· 75% LTV from 4.95%
· 65% LTV from 4.75%
· 55% LTV from 4.69%
Rob Stanton, business development director at Landbay, commented: “This is our third round of rate reductions in just over two weeks as we react quickly to movements in the money markets.
“We are also pleased to able to increase our loan sizes for buy-to-let lending at the higher end of the borrowing scale. The rate reductions and maximum loans will give more options to intermediaries looking to find competitive products for their landlord clients.”