Landbay launches two-year discounted trackers with no ERCs and reduces rates on special edition range

Monday, February 20, 2023 By Aaron Strutt

Landbay continues its new year product innovation with the launch of a range of two-year discounted buy-to-let trackers with no early repayment charges. The lender's rates start from 1.49% plus Bank base rate (BBR) (currently 3.5%), up to 75% LTV with a variable fee structure of 2% or 3% to assist with affordability.

These discounted trackers are available on standard properties, houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) with loan sizes from £100,000 to £1 million. There is also a standalone discounted tracker range for trading companies on standard, HMO and MUFB up to 75% LTV and a 3% fee.

Landbay has also made further reductions of up to 30 basis points on its five-year fixed rate Special Edition buy-to-let mortgage range. Rates start at 4.29% and the reductions apply to standard properties with LTVs of 55%, 65% and 75%.

There is a variable fee structure of between 2% and 7% to help with affordability and passing interest coverage ratio (ICR) requirements. Rob Stanton, business development director at the lender, commented: “The choice of the interest rate and fee combination allows brokers flexibility in working out what is best for their clients, especially in calculating the ICR to meet affordability requirements.”

Call Trinity Specialist Finance to secure funding on 020 7016 6151

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