Landbay has reduced rates in its large house in multiple occupation (HMO) and multi-unit freehold block (MUFB) range by up to 0.2%.
Landbay’s criteria for large HMOs is from seven to 12 bedrooms, and for large MUFBs it is seven to 12 units.
The new rates include the 70% loan-to-value (LTV) large HMO 2-year fix cut from 3.85% to 3.69%, and the 75% LTV large HMO 2-year fix cut from 3.99% to 3.79%.
The 75% LTV 5-year fixed rate large HMO has been cut from 4.19% to 3.99%, and the 70% LTV large MUFB 2-year fix has been cut from 3.85% to 3.69%.
As well as this, the 70% LTV large MUFB 5-year fix has been cut from 4.09% to 3.89%, and the 75% LTV 5-year fix large MUFB from 4.19% to 3.99%.
Paul Brett, managing director of intermediaries at Landbay, said: “Demand for HMO and MUFB finance has been picking up over the past couple of years as experienced landlords build up and diversify their portfolios.
“These types of property are proving more attractive to landlords as they generate a higher yield than a single dwelling.
“This is being fuelled by high demand for shared housing and rented property.”