Specialist lender Landbay has reduced rates on its two-year tracker BTL mortgages by up to 90 basis points and introduced new products to the range.

The company’s two-year tracker products are available for standard property, houses in multiple occupation (HMO), multi-unit freehold blocks (MUFB) and trading companies.

Landbay says all products have a maximum LTV of 75%, with no early repayment charges.

The new two-year tracker products start at 0.09% + bank base rate (BBR) and come with a 4% fee.

For small HMO/MUFB up to six bedrooms they are from 0.39% + BBR with a 4% fee.

In addition, Landbay has also reduced the existing range of its two-year trackers by 90 basis points for standard property and 80 basis points for small HMO/MUFB and trading companies.

Landbay’s managing director of intermediaries, Paul Brett, says the lender has seen two-year term mortgages being selected by landlords who want to re-evaluate their situation in the nearer term.

He adds: “Our tracker products provide flexibility, with an option to move to a lower rate with no early repayment charges if the base rate reduces.

“And of course, if the Bank of England base rate continues to rise, landlords have the freedom to exit the tracker whenever they like as they are not tied in.”

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