Landbay’s product range has been reduced by up to 0.30%.
Lenders’ small home (HMO) and multi-unit freehold building (MUFB) range will reduce the biggest reduction, which will reduce by 0.30%.
Small HMO/MUFB five-year fixed-rate product offers up to 75% loan-to-value (LTV).
The lender’s limited edition series also cut rates by 0.20%, with a standard five-year fixed-rate product (now starting at 75% LTV) starting at 4.69%.
In addition, the products targeting trading companies were reduced by 0.20%.
Some examples of the new price include:
• Limited Edition standard five-year fixed 75% LTV is 5.29% and the fee is 2%, down from 5.49%
• Small HMO/MUFB five-year fixed 75% LTV is 5.04%, and the fee is 6%, below 5.19%
• Trading company five-year 75% LTV is 5.79% and fee is 3%, down from 5.94%
Interest rates will be cut by 0.25% to 4.5% after the cuts announced by the Bank of England last week.
“With the good news of lowering interest rates, we are pleased to follow the announcement of further reductions in interest rates, including our most popular products,” said Rob Stanton, Director of Sales and Distribution at Landbay.
“As landlords remain active in the market and explore investment opportunities, we want to support our broker partners to help make these purchases come true and ensure they meet any demand in any aspect of their needs.”
