Landbay lowers prices and reintroduces green and commercial products

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“As one of the few lenders offering products aimed at commercial companies, I am pleased that we are able to serve this part of the market again and reintroduce our green range.”

Landbay lowered rates on standard and HMO/MUFB mortgages and brought back green and commercial products.

Landbay’s green products for standard properties with an EPC rating of A, B or C include five-year fixes at 6.39% up to 65% LTV and 6.49% up to 75% LTV.

New products are also available for commercial companies borrowing on standard properties as well as smaller HMOs and MUFBs with LTVs of up to 75%. The standard five-year fix is ​​6.79% and for small HMOs/MUFBs it is 6.89%.

In addition, rate reductions of 0.20% have been made on five-year fixed rates up to 75% LTV for standard variable loose-frame properties for Interest Coverage Ratio (ICR) calculations. The 6.29% rate has a 4% fee, the 6.49% rate has a 3% fee while the 6.69% rate has a 2% fee.

Landbay has also reduced rates for HMOs/MUFBs with LTVs of up to 75%. The five-year fixed rate for small HMOs/MUFBs with up to six rooms/units is set at 6.79%. Large HMOs/MUFBs, which contain up to 12 beds/units, have a five-year fixed rate at 6.89%.

Additionally, there is a rate reduction of 0.25% on a two-year fixed rate for large HMOs/MUFBs at 6.59% up to 75% LTV.

Paul Brett, managing director of intermediaries at Landbay, commented: “The rapid increase in prices has been difficult for everyone. As one of the few lenders offering products aimed at commercial companies, I am pleased that we are able to serve this part of the market again and reintroduce our green range. As a carbon neutral company, we would like to encourage owners to upgrade their properties to EPC ratings of A, B or C or buy new builds which are generally better rated.

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