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 Reduces Buy-to-Let Rates and Expands Specialist Mortgage Range

Landbay has announced a series of buy-to-let (BTL) rate reductions of up to 0.35% across its Premier, Core, and Specialist mortgage ranges. Following these changes, BTL rates now start from 3.44%.

The lender has also introduced eight new specialist mortgages, expanding its 65% loan-to-value (LTV) offering within the small houses in multiple occupation (HMO) and multi-unit freehold block (MUFB) ranges. Additionally, Landbay has widened its tier two criteria to offer greater flexibility for landlords with minor credit blips.

Rate Cut Details

• Premier Range: For standard and HMO properties, two-year fixed rates at 75% LTV have been reduced by 0.15% across 15 products, with rates starting from 3.44%. Five-year fixed 75% LTV products have been reduced by 0.05% across 19 products, with rates from 4.69%. Small HMO two- and five-year fixed products have been reduced by up to 0.15% across nine products, with rates from 4.69%.

• Core Range: For standard properties for individuals, limited companies, and LLPs, two- and five-year fixed deals have been reduced by up to 0.35%. Two-year fixed rates now start from 4.29%, and five-year fixed rates from 5.04%.

• Specialist Range: For holiday lets, HMOs, MUFBs, and trading companies, small HMO and MUFB products have been reduced by up to 0.35%, with two-year fixed rates from 4.64% and five-year fixed rates from 5.69%. Holiday let products have been reduced by up to 0.25%, with two-year fixed rates from 4.69% and five-year fixed rates from 5.79%. Trading company products have been reduced by up to 0.15%, with two-year fixed rates from 4.79% and five-year fixed rates from 5.84%.

Rate reductions also apply to product transfers.

These changes may be of interest to UK letting agents and inventory clerks working with landlords seeking new or refinanced buy-to-let mortgage products, particularly those managing HMOs, MUFBs, or holiday lets.