Landbay has initiated a reduction of up to 0.20% in buy-to-let rates, primarily benefiting non-portfolio landlords.
- The adjusted rates impact both 2-year and 5-year fixed rate products, with significant changes for those offering up to 75% loan-to-value (LTV).
- Non-portfolio products, particularly those for landlords with fewer properties, are at the forefront of these reductions.
- Landbay’s automated valuation model (AVM) products have had their rates reduced, reflecting a commitment to efficiency and cost savings.
- Access to these new rates is facilitated through Landbay’s specialised affordability calculator, geared toward enhancing landlord investment opportunities.
Landbay has introduced a notable reduction in its buy-to-let interest rates, cutting them by up to 0.20%. This adjustment comes as a relief to non-portfolio landlords, particularly those managing three or fewer properties. The rate cut applies to both 2-year and 5-year fixed products, available at loan-to-value levels of 70% and 75%. This move aligns with current market conditions and showcases Landbay’s strategic efforts to remain competitive.
The rate reduction is most pronounced in the non-portfolio product category, where landlords with a limited number of properties stand to benefit significantly. These products include Landbay’s automated valuation model (AVM) supported options, which are also set to take advantage of the new rates. Fixed rates extending up to five years and 75% LTV are now available at reduced cost, underscoring Landbay’s focus on catering to a broad landlord demographic.
Additionally, the company has introduced a slightly smaller rate reduction of 0.15% on select 2-year and 5-year fixed rate products at a 55% loan-to-value. These tactical adjustments not only benefit individual landlords but also reflect a broader market trend towards affordable financing options.
Intermediaries can conveniently access Landbay’s updated product offerings through their dedicated buy-to-let affordability calculator. This tool, which incorporates a flexible fee structure, aims to enhance affordability for landlords. Among the offerings, standard 2-year fixed rate products at 75% LTV are now presented with competitive rates, fostering an environment where landlords can maximise their investment strategies.
Rob Stanton, sales and distribution director at Landbay, highlighted the strategic nature of these changes. He emphasised the benefits of their efficient and technologically advanced AVM products, which have gained considerable popularity in the market. The proximity to funders and the adept use of in-house technology also enable Landbay to swiftly implement these favourable rate changes, thus offering landlords advantageous terms in a challenging market.
Landbay’s rate cuts reflect a continued commitment to supporting landlords with affordable and competitive mortgage options.
