Landbay has launched two new two-year trackers and two fee-free five-year fixed-rates within its premier range of products.
The two premier trackers are both available up to 75% loan-to-value (LTV) with no early repayment charges.
A two-year tracker, for both purchase and remortgages, and a like-for-like remortgage-only tracker, both available at bank base rate (BBR) plus 0.34% (currently 4.09%) and 3% fees.
Landbay says the new trackers would be attractive to landlord borrowers who believe there is more room for BBR cuts over the next year or two.
The lender has also added two new zero fee, five-year fixed-rate products, available up to 75% LTV.
The first is a 5.09% product for both purchase and remortgages, while the second is a remortgage-only 5.14% product which comes with a free valuation.
Landbay’s premier range includes standard products for landlords with up to 15 properties, available to both individual and limited company landlord borrowers.
Landbay sales and distribution Rob Stanton says: “The markets appear to be pricing in two, possibly three, further BBR cuts over the next year, but in many cases that expectation is already built into fixed-rate pricing.”
“Our new two-year trackers are therefore designed for landlords who want to see the full benefit of any base rate cuts if or when they happen. With no early repayment charges, they also give advisers and their clients flexibility to move to a fix if the rate outlook changes.”
“Alongside this, we are adding two new zero fee ,five-year fixes for landlords who prefer longer-term certainty without the cost of upfront product fees. For many remortgage clients, removing fees can materially improve cash flow from the outset.”
