Landbay and Nottingham cut buy-to-let rates – Mortgage Strategy

Landbay has cut buy-to-let rates by up to 35 basis points today and Nottingham Building Society is lowering landlord deals by up to 15bps tomorrow.

At Landbay, rates have been cut across its Premier, Core and Specialist buy-to-let ranges and now start from 3.44%.

The lender has also launched eight 65% LTV Specialist products across its small houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs) ranges, as well as expanding its Tier 2 criteria for landlords with minor credit issues.

Premier two-year fixed rates at 75% LTV have been cut by 15bps across 15 products, with rates starting from 3.44%, while five-year fixes have been reduced by 5bps across 19 products, starting from 4.69%. Small HMO rates have been cut by up to 15bps.

Across the Core range, two- and five-year fixed rates have been reduced by up to 35bps, while Specialist small HMO and MUFB rates have also been cut by up to 35bps.

Holiday let rates have fallen by up to 25bps and trading company products by up to 15bps.

At Nottingham Building Society, meanwhile, new limited edition buy-to-let products will launch tomorrow with rates that are up to 15bps cheaper than its current deals.

Landbay sales and distribution director Rob Stanton says: “While market conditions remain volatile, we’re committed to reacting quickly when opportunities arise to improve pricing, helping brokers access lower rates across our Premier, Core and Specialist ranges alongside an expanding product offering.

“These latest reductions, together with the launch of new 65% LTV products and the expansion of our Tier 2 criteria, give brokers even more options to support landlords with a wide range of borrowing requirements.

“We know advisers need a combination of competitive pricing, product choice and certainty of service.

“That’s why we’re continuing to invest across our range, helping brokers place both straightforward and more specialist buy-to-let cases with confidence.”