Landbay has launched two new buy-to-let mortgages in an effort to help landlords expand their portfolios before the end of the stamp duty deadline.
The alternative lender is offering two new five-year fixed rates at 75 per cent loan-to-value with a rate of 3.55 per cent.
One has a free valuation and a maximum loan size of £525,000, available on properties worth up to £700,000.
The second has a higher maximum loan of £1m.
Paul Brett (pictured), managing director of intermediaries at Landbay, said the lender was keen to help landlords beat the stamp duty holiday before it expires at the end of March next year.
“It is a testament to Landbay’s confidence in the buy-to-let market that we can continue to lower our interest rates once again,” he said.
“This will be very welcome news to intermediaries as it will help their clients to make the most of the burgeoning buy-to-let market. There is still strong demand from professional landlords who are taking advantage of the savings from the stamp duty holiday to increase their portfolios.
“The recent Bank of England statistics showed the housing market is hitting heights not seen since 2007 and buy.”
Landbay’s latest product changes follow the lender offering free title indemnity insurance on remortgages last week.