Landbay, one of the UK’s leading specialist buy-to-let lenders, has today reduced the rate on its Special Edition two-year fixed rates for both 60% and 70% LTV by 14 and 10 basis points respectively. The rates are now amongst the most competitive specialist buy-to-let rates in the market.
Landbay, which is institutionally funded, has also expanded its product offering with a new 70% LTV standard five-year fixed rate and reduced the rate for its 75% LTV standard five-year fixed rate.
All the rates are available for loan sizes up to £1.5m. These rates apply to standard properties.
Details of the changes are below:
- Special Edition 60% LTV, standard 2-year fixed rate, down from 3.09% to 2.95%
- Special Edition 70% LTV, standard 2-year fixed rate, down from 3.19% to 3.09%
- 75% LTV, 5-year fixed rate, down from 3.74% to 3.69%
- *New* 70% LTV, 5-year fixed rate at 3.59%
All new applications will benefit from Landbay’s instant Decision in Principle (DiP). Using intuitive technology, Landbay’s DiP takes only two minutes from start to finish, helping to fulfil its aim to combine cutting edge technology with the human touch. Brokers always have direct access to a highly experienced team of underwriters and BDMs who understand the mortgage market and the importance of getting a case over the line quickly.
Paul Brett, managing director of Intermediaries at Landbay, said, “Demand for buy-to-let is booming at the moment as investors take advantage of the stamp duty holiday. These new lower rates reflect the robust buy-to-let market and help to make it more affordable for investors including those wishing to incorporate their properties into a limited company structure.
“These new rates and additional product will offer more options to intermediaries and their clients who are looking to capitalise on the stamp duty holiday and the high demand for private rental properties.”