Landbay has reduced mortgage rates across its range and Shawbrook has introduced new products.
At Landbay, the specialist range has seen the biggest cuts, with small house multi-occupancy (HMO) and multi-unit freehold block (MUFB) products reduced by up to 25 basis points and now starting from 3.69%.
These are available at up to 65% and 75% loan-to-value and include product transfer options, as well as products for start-up landlords and businesses.
The fixed interest rate for holiday rentals with a term of two years has been reduced by 20 basis points, with the interest now starting at 3.99%.
In the best range, designed for landlords with up to 15 properties in limited companies, two-year fixed rates up to 75% LTV have fallen by 10 basis points, with rates now starting at 3.39%.
The cuts also apply to product transfers.
In Landbay’s core range, aimed at portfolio landlords with corporate structure options, two-year fixes at 75% LTV, including product transfers, have been reduced by 10 basis points.
Earlier this week, Landbay also cut rates on its five-year fixed premium products by up to 15 basis points.
Shawbrook has also updated its range to give buy-to-let landlords a wider choice of product terms and fees.
In each product category, it offers variable and fixed interest rate options over two, three, five or ten years and a choice of fees of 2%, 3% or 5%.
Shawbrook has added a new specialist “SB1” product for individual rentals, replacing its digital buy-to-let product.
This offers the choice of an automated valuation model (subject to acceptance) or a physical valuation, with rates starting from 4.59%.
It has also added new SB1 HMO and MUFB products, offering mortgages on blocks of up to 10 units and for HMOs with up to 10 residents, with rates starting from 4.89%.
Returning to Landbay’s rate cuts, Rob Stanton, the lender’s sales and distribution director, said: “Our activity in recent weeks has demonstrated our commitment to expanding our product range and ensuring our rates remain as competitive as possible.
“These types of activities are critical as landlords across the country continue to take advantage of investment opportunities that still exist in the market.
“Just as important is the large number of property owners who are about to refinance and are currently exploring their options.”
Meanwhile, Daryl Norkett, property proposition director at Shawbrook, said of the update: “This innovation is about giving agents the flexibility and confidence to support a wide range of professional landlords.
“By improving our range and expanding our product options, we are making it easier to find the right solution for every customer, whether investing in a single property or managing a complex portfolio.”