Landbay has announced it is launching the lowest five-year fixed rate buy-to-let (BTL) mortgage in the UK.
The BTL lender confirmed the new rate of 2.99% will be available up to 50% LTV on standard properties, with loan sizes up to £1m.
Landbay was this month ranked twelfth in the FT 1000 index of fastest growing companies in Europe, having also reached number six in last year’s Deloitte UK Fast 50.
The latest move from the lender follows the launch of a new range of BTL products at the start of the month, which Landbay suggested is aimed at non-portfolio landlords looking to invest in BTL properties.
Commenting on the latest product announcement, managing director, Paul Brett, said: “This is the only five-year fixed rate BTL mortgage for limited companies that is under 3%.
“This should be positive news for brokers and landlords as Landbay is at the forefront of driving down rates and making BTL ever more affordable at a time when landlords most need it to be.”
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