Landbay, the buy-to-let lender, has added two new mortgage products to its green product range, and made a series of rate reductions.
Launched earlier this year, these rates are exclusively for properties that have been registered for at least 24 months with an energy performance certificate (EPC) rating of C or above. The lender hopes to incentivise landlords to make their rental properties more energy efficient, in line with government targets.
These new products are both five-year fixes, at 70% LTV with a 2.89% rate for properties with an EPC rating of A or B, and a 2.94% rate for those with a C rating.
The lender has reduced the rate for the standard 70% LTV two-year fixed rate to 2.79%, and the standard 50% LTV five-year fixed rate to 2.89%.
For small HMOs, two 70% LTV mortgages have had rates reduced, on the two-year fix down to 2.89% and the five-year fix down to 3.14%.
Paul Brett, managing director, intermediaries at Landbay, said: “All bar one of the rates in our rejigged special edition range are below three per cent making these products highly competitive,”
“This follows on from the rate reductions across our core range announced last month.
“The interest we have received in our core green mortgage range, which we launched in June, led us to introduce green products into our special edition range. We are always keen to provide more choice as well as competitive products for our broker partners and their landlord clients.”
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Landbay reduced rates on its green product range for the first time last month.