Landbay has made a series of interest rate cuts across its first range.
The rate cuts include a 40 basis point reduction on two-year, 75% fixed-rate loan-to-value (LTV) products, as well as reductions on small HMOs, remortgages (free valuation) and five-year fixed-rate options.
The biggest cuts were made across the lender’s 75% two-year fixed rate range, where interest rates across 10 products were cut by 40 basis points.
Following the changes, rates now start from 3.39% with a 5% fee to 5.89% for the no fee option.
Alongside these cuts, the lender has reduced interest rates on its four small 75% two-year HMO fixes by 30 basis points, with the products now starting at 4.59% with a 3% fee and 5.59% with a no-fee option.
Interest rates on 23 major five-year remortgages, which include a free assessment, have been cut by up to 20 basis points, with selected products including 4.62% with a 5% fee and 5.64% with a no-fee option.
In addition, Landbay has reduced interest rates by 15 basis points across 21 flagship products by fixed 75% LTV for five years, covering standard purchase, remortgage, transfer products and small HMOs.
Selected products include a deal of 4.59% with 5% fees and 5.62% with no fees.
“These latest changes represent a significant improvement to our Premier range and provide brokers with more competitively priced options across a wide range of landlord requirements,” says Landbay Sales and Distribution Director Rob Stanton.
“While the main reduction is a 40 basis point cut to our 75% LTV two-year fixed rate products, we have also made significant reductions across the smaller HMOs, remortgages and five-year fixed rate ranges.”
“This ensures advisers have access to strong rates whether they are supporting purchase, remortgage, product transfer or specialist property situations.”
“Our focus remains on providing brokers with choice, flexibility and value. With discounts on over 50 products, we seek to support advisers and their landlord clients with a comprehensive range that remains competitive across multiple sectors of the buy-to-let market.”
Elsewhere, Pepper Money will withdraw a number of products this evening and relaunch them at reduced prices tomorrow.
