Landbay simplifies term tracker range and reduces rates

08 September 2022

Landbay has restructured its term tracker range of buy-to-let mortgages with rate reductions and new products to replace some of those that have been withdrawn.

Term tracker rates are down by 0.86% to 4.34% on standard products, small HMOs (Houses in Multiple Occupation) and small MUFBs (Multi-Unit Freehold Block). These products are available for new build as well as older properties up to 75% LTV.

The term trackers for large HMOs and MUFBs have had rates reduced by 1.1% to 4.59% and the LTV has been raised to 75% from 70%.

All of these products track Bank of England base rate and there are no early repayment charges so borrowers are free to leave whenever they like.

Paul Brett, managing director, intermediaries at Landbay, said: “These term tracker products offer flexibility as well as competitive pricing, while offering borrowers the opportunity to remortgage to another product at any stage without penalty if they wish.”