Landbay has increased its maximum loan sizes from £1m to £1.5m on all standard properties, houses in multiple occupation and multi-unit freehold blocks.  

The buy-to-let lender has also raised the maximum loan size on new build properties to £750,000 up from £500,000 across its whole range.

Maximum loan-to-values are increasing to 75 per cent on small HMOs and MUFBs up from 70 per cent LTV previously.

Rates on standard properties including new builds were reduced this morning.

• Its two-year at 75 per cent LTV reduced from 3.64 to 3.54 per cent.
• Its five-year fixed rate at 60 per cent LTV reduced from 3.75 to 3.54 per cent.
• Its five-year fixed at 75 per cent LTV reduced from 3.85 to 3.74 per cent.

Product fees for all three products remain at 1.5 per cent

Managing director of intermediaries Paul Brett says: “The buy-to-let market has experienced a strong bounce back since the easing of  lockdown restrictions and the combination of these new lower rates, together with competitive loan sizes and LTVs will help landlords to expand their portfolios, or remortgage their existing properties.  

“With a combination of low interest rates and the temporary reduction of SDLT, I believe that savvy landlords will exploit this opportunity to the full, which will only be a good thing for the buy-to-let market and everybody in need of private rental accommodation.”