Landbay has launched new five-year fixed rate products at 80% loan-to-value (LTV) for both standard properties and small houses in multiple occupation (HMOs), alongside a raft of further rate reductions.

The new 80% LTV five-year product for standard properties is available at 6.39% and comes with no product fees. The HMO version is available at 6.59% with no product fees.

The buy-to-let specialist has also cut rates on a selection of their two-year and five-year fixed-rate product ranges.

Two-year fixed rate products for small HMO and multi-unit freehold blocks (MUFBs) – including those for trading companies and first-time landlords, have seen a reduction of 0.10%. Meanwhile, the standard two-year tracker range has also seen a reduction of 0.10%, with rates now starting at 0.24% plus bank base rate (BBR).

The standard five-year fixed range also benefits from a 0.05% reduction across both 65% and 70% LTVs.

Current products include:

• New – Standard five-year fixed at 6.39% 80% LTV with 0% fee
• New – Small HMO five-year fixed at 6.59% 80 LTV with 0% fee
• Standard two-year tracker (No ERC) at 0.44% + BBR 75% LTV with 5% Fee (was 0.54% + BBR)
• Standard two-year tracker (No ERC) at 1.54% + BBR 75% LTV with 3% Fee (was 1.64% + BBR)
• Small HMO/MUFB two-year fixed at 4.19% 75% LTV with 6% Fee (was 4.29%)
• Small HMO/MUFB two-year fixed at 5.84% 75% LTV with 3% Fee (was 5.94%)
• Standard five-year fixed at 4.54% 70% LTV with 7% Fee (was 4.59%)
• Standard five-year fixed at 4.74% 65% LTV with 6% Fee (was 4.79%)

Landbay  sales and distribution director Rob Stanton commented: “Less than two weeks on from our previous round of rate reductions, we are pleased to be able to make further cuts across our product range. We are also delighted to be in a position to bring a new product to market that is not only at an attractive and accessible LTV for many landlords but boasts no product fees too.

He added: “Positive news late last week on inflation and further stability on the base rate certainly gave us the scope to reprice. As many landlords weigh up their options in the current market, I’m sure news of a reduction in tracker rates will catch their attention.”