Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Solutions. Read the original article for full details.

Landbay and Molo Announce Buy-to-Let Rate Reductions

Landbay has announced rate cuts of five basis points (bps) across 18 Premier buy-to-let (BTL) products. Molo has also reduced rates by 10bps on its UK resident two- and five-year BTL range.

Landbay’s Premier range includes standard and house in multiple occupation (HMO) products for borrowers with up to 15 mortgaged properties. These products are available to both individual and limited company landlords. The 18 affected products cover five-year fixed rates up to 75% loan-to-value (LTV) for both purchase and remortgage, including automated valuation model (AVM) and product transfer options.

Specific rate reductions from Landbay include the zero-fee five-year fixed purchase and remortgage product, now at 5.4% (down from 5.45%), and the 5% fee product, now at 4.4% (down from 4.45%). Remortgage AVM five-year fixed products have also been reduced by 5bps, with the 1% fee option now at 5.2% (previously 5.25%) and the 5% fee product at 4.4% (previously 4.45%). Within the remortgage free valuation range, the zero-fee five-year fixed rate is now 5.44% (down from 5.49%), and the 5% fee option is 4.44% (down from 4.49%). Product transfer five-year fixed rates have also been cut, with the 1% fee option now at 5.29% (down from 5.34%) and the 5% fee product at 4.49% (down from 4.54%).

Molo has reduced rates by 10bps across its UK resident two- and five-year BTL range. Two-year fixed rates for standard BTL products now start at 2.85% at 75% LTV, while five-year fixed rates are available from 4.55%. These reduced rates are available to both individuals and limited company landlords.

These changes may be relevant to letting agents and inventory clerks monitoring mortgage product trends for landlords and property investors.