Landbay has reduced buy-to-let mortgage rates across its entire range and Shawbrook has introduced new products.

At Landbay, its specialist range has seen the largest cuts, with small houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) products reduced by up to 25bps and now starting from 3.69%.

These are available up to 65% and 75% loan-to-value and include product transfer options, as well as products for first-time landlords and companies.

Holiday let two-year fixed rates have been cut by 20bps, with rates now starting at 3.99%.

In its premier range, designed for landlords with up to 15 properties held in limited companies, two-year fixed rates up to 75% LTV have come down by 10bps, with rates now starting from 3.39%.

The cuts also apply to product transfers.

In Landbay’s core range, aimed at portfolio landlords with options for limited company structures, two-year fixes at 75% LTV, including product transfers, have been reduced by 10bps.

Earlier this week, Landbay also reduced rates on its five-year fixed premier products by up to 15bps.

Shawbrook has also updated its range to give buy-to-let landlords a wider choice of product terms and fees.

In every product category, it is offering variable and fixed rate options over two, three, five or 10 years and a choice of fees at 2%, 3% or 5%.

Shawbrook has added a new specialist “SB1” product for single lets, replacing the digital buy-to-let product.

This offers the choice of an automated valuation model (subject to acceptance) or a physical valuation, with rates starting from 4.59%. It has also added new SB1 HMO and MUFB products, offering mortgages on blocks of up to 10 units and for HMOs with up to 10 occupants, with rates starting from 4.89%.

Returning to Landbay’s rate cuts, the lender’s sales and distribution director Rob Stanton (pictured) says: “Our activity over the past couple of weeks has demonstrated our commitment to expanding our product range and ensuring our rates remain as competitive as possible.

“Activity such as this is critical as landlords across the country continue to capitalise on investment opportunities that still exist in the market.

“Just as important is the large number of property owners who are set to refinance and are currently reviewing their options.”

Meanwhile, at Shawbrook, director of real estate proposition Daryl Norkett says of its update: “This refresh is about giving brokers the flexibility and confidence to support a wide range of professional landlords.

“By improving our range and expanding our product options, we’re making it easier to match the right solution to each client, whether they’re investing in a single property or managing a complex portfolio.”