Buy-to-let (BTL) lender Landbay has cut rates across its five-year fixed Premier products, now starting at 4.09%.
The largest cut has been made to the lender’s products up to 75% loan to value (LTV), with all four deals being lowered by 0.15%.
There is a five-year fix with a 5% fee and rate of 4.09%, and an option with a 1% fee priced at 4.89%.
For a remortgage with a free valuation, the product with a 5% fee has a rate of 4.14% and the option with a 1% fee has a rate of 4.94%. These products have seen reductions of up to 0.13%.
Landbay’s product transfer with a 5% fee now has a rate of 4.15% and the option with a 2% fee is priced at 4.75%, following cuts of as much as 0.14%.
Landbay launched the Premier products last year and designed the products for landlords with up to 15 properties in limited company special purpose vehicles (SPVs).
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Rob Stanton, sales and distribution director at Landbay said: “Following the launch of new Premier products last week, it is great to be able to announce rate reductions across our Premier range of five-year fixed products.
“This range serves a critical part of the market and provides valuable options to those looking to expand and scale, as well those in the process of refinancing. Our data tells us that five-year options remain the preferred choice of landlords, so it’s important that we not only meet this demand, but ensure our rates are as competitive as possible.”
Stanton added: “Across our Premier, Core and Specialist product lines, we remain committed to providing options to help our intermediary partners support landlords of all sizes and setups. Achieving this requires the right combination of innovation and agility to identify gaps in the market for new products and opportunities to tweak and improve the rates we offer.
“On both counts, our tech-first approach to lending enables us to act quickly as soon as the opportunity presents itself.”
