Landbay has launched a new range of specialist holiday rental blocks (MUFB).
The lender has introduced four two- and five-year fixed rate products as part of its specialist range.
The new products, all available up to 75% LTV, are:
• Five-year fixed rate available at 5.49% with a 5% fee and 5.89% with a 3% fee
• Two-year fixed rate available at 4.39% with a 5% fee and 5.39% with a 3% fee
Landbay has also made up to 10 basis points of cuts across its core two- and five-year fixed rate standard products, which also cover both product transfers and like-for-like refinancing.
Premier is a range of standard products for landlords with up to 15 properties, available to both individual and limited landlords.
Landbay has reduced rates on the following Premier products:
• Five-year fixed rate now available at 4.84%, two-year fixed rate now available at 4.79%. Available up to 75% LTV with a 1% fee.
• Five-year fixed rate now available at 4.04% with a 5% fee, two-year fixed rate now available at 3.29% with a 4% fee. Again, available up to 75% LTV
• Like-for-like two-year fixed rate now available at 4.29% (emphasized at 4.5%), with a 2% fee, up to 75% LTV
Landbay sales and distribution director Rob Stanton (pictured) said: “The four new specialist holiday rental small MUFB products offer agents and their clients a wider product range in a growing sector, as landlords look to diversify and access those parts of the market that can deliver greater returns and profitability.
“We have also added a 5% overpayment feature across our entire buy-to-let mortgage range, allowing customers to benefit from this greater level of flexibility when they have money left to spend on their mortgage.”
The news follows the fact that Landbay lowered mortgage rates across its entire range in October.