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Landbay Cuts Rates across Product Range

Landbay starts off the new year with a complete product refresh to simplify its buy-to-let mortgage range and has added new build homes into its Green criteria.

The specialist lender has made significant rate reductions from 0.14 per cent to 0.29 per cent with the lowest rate now set at 2.65 per cent for a two-year fix at 65 per cent LTV, down from 2.85 per cent.

Highlights of the product refresh include the standard five-year fixed rate at 75 per cent LTV reduced to 3.04 per cent, with free valuation options, down from 3.24 per cent.

These rate reductions are not just across Landbay’s standard range but also incorporates more specialist lending such as small portfolio landlords and trading limited companies.

Less than six months after launching its Green range for existing properties, Landbay has now extended this to new builds, which can benefit from a rate reduction for properties with EPC ratings from A-C.

The lender has also simplified its Green range to include A, B or C rated properties under one product. Previously there were different rates for EPC A/B ratings and those with a C rating.

In addition, the entire green range has been enhanced with a further rate reduction of 10 basis points. For example, a five-year fix at 75 per cent LTV for a property rated EPC A, B or C is now 2.94 per cent, reduced from 3.14 per cent for an A/B rated property and 3.19 per cent for a C rating.

Also benefiting from lower rates are small HMO/MUFB products, including new build properties, where the 75 per cent LTV products have fallen to 3.34 per cent from 3.59 per cent.