Landbay reduces BTL rates and enhances green criteria

Jake Carter

January 6, 2022

cut rates

Landbay has reduced selected buy-to-let (BTL) mortgage rates and added new-build homes into its green criteria.

The specialist lender has made rate reductions from 0.14% to 0.29%, with the lowest rate now set at 2.65% for a 2-year fix at 65% loan-to-value (LTV), down from 2.85%.

Highlights of the product refresh include Landbay’s standard 5-year fixed rate at 75% LTV reduced to 3.04%, with free valuation options, down from 3.24%.

Landbay has also now extended its green range to new-builds, which can benefit from a rate reduction for properties with Energy Performance Certificate (EPC) ratings from A to C.

The lender has also simplified its green range to include A, B or C rated properties under one product, and the entire green range has seen a further rate reduction of 10 basis points.

Paul Brett, managing director, intermediaries at Landbay, said: “Despite the Bank of England raising the base rate by 0.15% in December, we are in a position where we are able to lower rates.

“We have access to strong funding lines and our funding partners are keen to support our competitive product position, which we intend to maintain.

“Last year we expanded our product range even further by making significant inroads into helping small portfolio landlords, HMO landlords and those aiming to be environmentally friendly.

“We have been blown away by the interest and take-up of our green range as more property investors are realising the importance of making their property energy efficient.

“Around one in 10 of our loans are for new build property so it makes perfect sense to extend our green mortgage to this cohort of landlords.”

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