Landbay is extending its buy-to-let range for intermediaries and their landlord clients with the launch of its first 10-year fixed rate mortgage range.

The new range will see the introduction of four new products initially available on a semi-exclusive basis with wider distribution to come later this year.

The new range is for standard properties and small houses of multiple occupancies (HMO) up to six bedrooms. These products will also be available with green options which have reduced rates for properties with an energy performance certificate (EPC) rating of A, B or C.

A standard 10-year fixed rate at 65% loan-to-value (LTV) is 4.04%, a standard 10-year fixed rate at 75% LTV is 4.14%, a small HMO 10-year fixed rate at 75% LTV is 4.34% and a green (EPC A-C) standard 10-year fixed rate at 75% LTV is 4.04%.

The new mortgages are available to landlords with at least 24 months of experience and a further advance option is available after three years.

Landbay managing director of intermediaries Paul Brett says: “Now that the Monetary Policy Committee has voted to raise the base rate at each of its last five meetings, more borrowers are considering longer-term fixed rates.”

“The launch of our 10-year fixed rates are therefore timely and we know there will be demand for them. With the launch of our new broker portal in May we are now able to design new products and bring them to market much more quickly than before.”

“As this is our first foray into the 10-year fixed rate market, we have chosen a select group of specialist distributors to assist us in the launch process.”