Landbay has launched a new product and trimmed traits on a number of buy-to-let deals.

The lender has introduced a new five-year fixed rate at 70 per cent loan-to-value which is priced at 3.59 per cent.

At 60 per cent LTV, its two-year fixed rate has reduced from 3.09 to 2.95 per cent.

At 70 per cent LTV, its two-year fixed rate has come down from 3.19 to 3.09 per cent.

At 75 per cent LTV, its five-year fixed rate has been cut from 3.74 per cent 

These deals are available for loan sizes up to £1.5m against standard properties.

Landbay says its instant decision in principle process takes just two minutes. 

Managing director of intermediaries Paul Brett says: “Demand for buy-to-let is booming at the moment as investors take advantage of the stamp duty holiday. 

“These new lower rates reflect the robust buy-to-let market and help to make it more affordable for investors including those wishing to incorporate their properties into a limited company structure.  

“These new rates and additional products will offer more options to intermediaries and their clients who are looking to capitalise on the stamp duty holiday and the high demand for private rental properties.”