Landbay lowers rates and reintroduces green and trading company buy-to-let products

10 November 2022

Landbay has lowered rates on standard and HMO/MUFB buy-to-let mortgages and brought back green and trading company products.

As the mortgage market begins to settle down after a few weeks of volatility, Landbay has been able to restructure its product range for landlords with competitive five-year fixed rates.

Making a welcome comeback to the market are Landbay’s popular green products for standard properties with an EPC rating of A, B or C. The five-year fixes are 6.39% up to 65% LTV and 6.49% up to 75% LTV.

New products are also available for trading companies borrowing on standard properties as well as small HMOs and MUFBs with LTVs of up to 75%. The standard five-year fix is 6.79% and for small HMO/MUFBs it is 6.89%.

In addition, rate reductions of 0.20% have been made on five-year fixed rates up to 75% LTV for standard properties with variable free structure for interest coverage ratio (ICR) calculations. The 6.29% rate has a 4% fee, the 6.49% rate comes with a fee of 3% while the 6.69% rate has a 2% fee.

Landbay has also reduced rates for HMO/MUFBs with LTVs of up to 75%. The five-year fixed rate for small HMO/MUFBs with up to six bedrooms/units is set at 6.79%. Large HMO/MUFBs, which contain up to 12 beds/units, have a five-year fix at 6.89%.

In addition, there is a 0.25% rate reduction on a two-year fixed rate for large HMO/MUFBs at 6.59% up to 75% LTV.

Paul Brett, managing director, intermediaries at Landbay, commented:

“The rapid increase in pricing has been tough for everyone. As one of the few lenders offering products catering for trading companies, I’m glad we’re able to service that part of the market again and to reintroduce our green range. As a carbon neutral company, we’re keen to encourage landlords to upgrade their properties to EPC ratings of A, B or C or purchase new builds that are generally higher rated.”