Landbay launched eight five-year fixed rate products at a loan-to-value (LTV) of 70% across its flagship range, in addition to a 0.15% interest rate reduction on its flagship small HMO fixed products with a two-year term.
The new premium additions include both standard and refinancing AVM products and are all available with a range of rate options including zero, 2%, 3% and 5%.
Select new premium five-year fixes include rates from 4.52% with a 5% rate to 5.52% with a zero rate, with additional options available at 2% and 3% rates.
Equivalent AVM remortgage products are available at the same price.
Premier is a range of standard products for landlords with up to 15 mortgaged properties, available to both individual and limited landlords.
The lender has also reduced rates on its small two-year fixed LTV HMO products with a 75% LTV, including product transfers.
Following the reductions, two-year 75% LTV fixes now start from 4.74% with a 3% fee to 5.74% with a 1% fee, while product transfer equivalents are available from 4.79% with a 3% fee and 5.79% with a 1% fee.
Land Bay sales and distribution director Rob Stanton says: “The market continues to place a strong emphasis on value and security, especially for landlords looking for longer-term fixed rates at lower LTVs.”
“By introducing these new five-year LTV fixes of 70%, we are giving brokers additional options to support that demand with a clear and flexible pricing structure.”
“At the same time, we know that small HMOs remain an important part of many landlord portfolios, and often require a more tailored approach. Reducing rates on these products, including for existing borrowers through OV options, ensures that advisers have competitive solutions available for both new and refinancing matters.”