Landbay has announced a significant reduction in rates for its fixed-rate buy-to-let mortgage products, going down by up to 0.20%.
- The most notable reductions are particularly on non-portfolio products intended for landlords with three or fewer mortgaged properties.
- Landbay’s reductions apply to both two-year and five-year fixed rate products at 70% and 75% LTV, showcasing their broad application.
- Innovative AVM-supported product offerings, alongside standard non-portfolio options, have seen notable interest due to cost efficiency and savings.
- Landbay utilises proprietary technology and strong relationships with funders to quickly offer competitive product ranges.
In a move reflecting a strategic shift within the mortgage market, Landbay has unveiled reductions of up to 0.20% in their fixed-rate buy-to-let offerings. This decision targets non-portfolio products which are specifically designed for landlords managing a limited number of properties. The significant focus on this segment highlights an opportunity for smaller landlords to benefit from these new offerings.
The reduced rates apply across both two-year and five-year fixed rate products available at 70% and 75% Loan to Value (LTV). This change is comprehensive, extending beyond niche markets to cover a wide array of landlords. Such inclusivity of rate reductions underscores Landbay’s commitment to providing accessible financial products across its portfolio.
Furthermore, the alterations also encompass Landbay’s Automated Valuation Model (AVM)-supported products. These products are similarly available as either two-year or five-year fixed rate options, limited to a maximum of 75% LTV. The integration of this technology appears to reflect Landbay’s ongoing commitment to innovation and efficiency, offering significant savings and streamlined processes for users.
In addition, there has been a 0.15% rate reduction on two-year and five-year fixed rate products that have a 55% LTV, which includes options for non-portfolio landlords. This move is indicative of Landbay’s proactive efforts to remain competitive whilst broadening access to potential cost savings for landlords.
Rob Stanton from Landbay explains that by utilising in-house technology and close partnerships with funders, the firm is positioned to swiftly capitalise on emerging opportunities. This approach ensures brokers can access a competitive suite of products designed to support landlords actively engaging with the current market scenario.
Landbay’s rate reductions signify a strategic effort to adapt and appeal to a broader range of buy-to-let investors, offering enhanced flexibility and affordability.
