Buy-to-let lender Landbay has cut 5-year fixed rate mortgages by 0.46%.
The product range starts at 4.39% for a product to 55% loan-to-value with a 6% fee, while there is also an option at 4.99% with a 3% fee.
To 75% LTV buyers can take out a 5-year fix at 5.09% with a 3% fee, and at 4.49% with a 6% fee.
Rob Stanton, sales and distribution director at Landbay, said: “It’s great to kick start 2024 with a sizeable rate reduction across our entire five-year fixed range.
“In truth, we start the year as we mean to go on – identifying opportunities in the market to make our range as competitive as possible for our broker partners and their landlord clients.
“As landlords continue to navigate the market, it’s really important that we offer a diverse range of products to suit landlords of all sizes and appetites.
“Our research suggests that five-year products remain a key choice for landlords moving forward, both in terms of affordability and in certainty of costs.
“We continue to streamline our variable fee structure to keep this important mechanism available for both landlords and brokers, all while reflecting the lower rates we are now working with.”
All 5-year products are stressed at payrate, with a maximum loan size of £2 million – depending on the loan-to-value. Meanwhile, fixed-fee products remain available for lower loan sizes.
