Landbay has made further reductions of up to 30 basis points on its five-year fixed rate special edition buy-to-let (BTL) mortgage range.

Rates start at 4.29% and the reductions apply to standard properties with loan-to-values (LTVs) of 55%, 65% and 75%.

There is a variable fee structure of between 2% and 7%, which the lender says is to help with affordability and passing interest coverage ratio (ICR) requirements.

Product highlights include a 75% LTV five-year fix with a rate of 5.39% and a 2% fee and a 75% LTV five-year fix with a rate of 4.79% and a 5% fee.

Other product examples of standard Landbay’s five-year fixed rates include:

• 65% LTV @ 5.34% – 2% fee • 65% LTV @ 4.34% – 5% fee • 55% LTV @ 5.29% – 2% fee • 55% LTV @ 4.29% – 7% fee

Landbay business development director Rob Stanton comments: “We are pleased to be able to announce another reduction in our five-year fixed rate Special Edition range on standard properties.”

“The choice of the interest rate and fee combination allows brokers flexibility in working out what is best for their clients especially in calculating the ICR to meet affordability requirements.”

Last week, Landbay launched a range of two-year discounted BTL trackers with no early repayment charges (ERCs).