Landbay has announced it is refreshing its buy-to-let (BTL) mortgage range and making new changes to its green criteria.

The specialist lender has confirmed rate reductions from 0.14% to 0.29% with the lowest rate now set at 2.65% for a two-year fix at 65% LTV, down from 2.85%.

Landbay’s standard five-year fixed rate at 75% LTV has also been reduced to 3.04% down from 3.24%.

Also benefiting from lower rates are the lender’s small HMO/MUFB products, including new build properties, where the 75% LTV products have been cut to 3.34% from 3.59%.

Landbay managing director, intermediaries, Paul Brett, commented: “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.”

Less than six months after launching its green range for existing properties, Landbay has also announced it is extending this 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.

“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,” Brett added. “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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