Buy-to-let lender Landbay has launched two new products for landlords with three properties or less, and has cut rates across other parts of its range.

It will offer a two-year fixed rate at 2.85% at up to 65% loan to value, available on loans of up to £1.5m.

And a five-year fixed rate at 3.25% at up to 65% LTV, also available on loans up to £1.5m.

The specialist lender has also lowered existing rates on four of its non-portfolio 75% LTVs at two and five-year fixed rates.

These are:

A two-year fixed rate at 2.95% at up to 75% LTV, down from 3.14%, with a 1.75% fee and a free valuation.

A five-year fixed rate at 3.35% at up to 75% LTV, down from 3.39%, with a 1.75% fee and a free valuation.

A two-year fixed rate at 2.95% at up to 75% LTV, down from 3.14%, with a 1.5% fee.

And a five-year fixed rate at 3.35% at up to 75% LTV down from 3.39%, with a 1.5% fee.

These products are available on standard properties only and can be taken out by limited companies and individuals.

New products and rate cuts are available from today (9 May).

Landbay managing director, intermediaries Paul Brett says: “The rental market is thriving, and we maintained our position at the forefront of this flourishing sector during the pandemic.

“We were one of the few lenders who continued to lend throughout lockdown, during which we successfully retained our rapid turnaround times.”