Landbay has cut rates by up to 20 basis points on more products after reductions of up to 40bps last week.

The latest reductions are to its standard five-year fixed and small houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) deals.

Last weeks rate cuts were on two-year fixes and it added non-portfolio products. Today, it has cut rates by up to 20bps on standard five-year fixed rate products up to 75% LTV.

These now start from 4.34%.

It has also cut rates on 12 deals in its small HMO and MUFB range, including both two and five-year fixes by up to 10 bps.

Thes now start from 4.19% for a two-year fixed up to 75% LTV and from 5.09% for a five-year fixed at the same LTV.

Landbay sales and distribution director Rob Stanton says: “Following the positive news of a first cut to the base rate since the start of the pandemic, we’re really pleased to be able to respond with a fresh round of rate reductions.

“Even in the current market, five-year fixes are still incredibly popular, while good quality HMOs continue to be in high demand and provide the necessary yields many landlords require.

“While we still cannot predict the path of the base rate or mortgage rates, we can be certain that there are still plenty of opportunities in the buy-to-let sector and lenders like us that are ready and willing to support both brokers and landlords.”