Landbay has made rate reductions of 0.20% across selected core two- and five-year fixed-rate products, available up to 75% LTV, alongside increases to maximum loan sizes for its standard products.
The lender’s core range is designed for standard buy-to-let properties, offering greater flexibility and AVM options for individual borrowers, limited company SPVs and LLPs.
The changes apply across 15 core products, including both standard and AVM options.
Selected Core products with reduced rates at different fee levels include standard and AVM two-year fixed-rates starting at 4.19% (5% fee) or 5.69% (2% fee).
The standard products now have an increased maximum loan size of £1.5m.
In addition, standard and AVM five-year fixed-rates at 4.94% (6% fee) or 5.74% (2% fee).
The standard products now have an increased maximum loan size of £1.5m.
Landbay sales and distribution director Rob Stanton says: “The market remains highly price-sensitive, and we know brokers are working with landlord clients who are focused on securing competitive rates while also accessing sufficient borrowing to support their investment plans.”
“By reducing rates across our Core range and increasing maximum loan sizes, we are giving advisers greater flexibility when structuring cases, particularly where larger loan amounts are required. This is especially important as we continue to see activity across both remortgage and purchase business.”
Meanwhile, The Mortgage Works has cut rates by up to 0.20 percentage points on selected BTL and let-to-buy products across its new business mortgage range.
The new business rate cuts include a two-year fixed rate (remortgage only) BTL mortgage at 3.74%, which has been reduced by 0.05%, with a 3% fee, available up to 65% LTV with free valuation and free legal.
The five-year fixed rate (remortgage only) BTL mortgage has been lowered by 0.15% to 4.37%, with a 3% fee, available up to 55% LTV with free valuation and free legal, while the five-year fixed rate (remortgage only) BTL mortgage has been trimmed by 0.20% to 4.99%, with a £1,495 fee, available up to 75% LTV with free valuation and free legal.
The Mortgage Works lead manager Keir Fraser says: “We’re delighted to be able to make these rate cuts as we continue to put The Mortgage Works at the forefront of the buy-to-let market with competitive rates.”
