Landbay has launched a new 5-year fixed rate buy-to-let mortgage, which is reportedly the UK’s lowest rate currently on the market for this type of product.
The offering is a 50% LTV 5-year fix at 2.99% and is available on standard properties with loan sizes up to £1m.
Paul Brett (pictured), managing director of Landbay intermediaries, said: “This is the only 5-year fixed rate buy-to-let 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 buy-to-let ever-more affordable at a time when landlords most need it to be.”
Earlier this month, Landbay was noted as the 12th fastest growing European company in the latest Financial Times’ annual FT1000 list.