Landbay, the buy-to-let lender, has announced the addition of a new BTL product. This 5-year fixed rate buy-to-let mortgage is offered at 2.99%, available at up to 50% LTV with a product fee of 1.5%.
Set to be a market leader, it is available on standard properties with loan sizes of up to £1million. The interest coverage ratio is calculated at payrate.
Paul Brett, Managing Director of Intermediaries at Landbay, 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.”
Original article featured here…