Landbay has cut rates across its buy-to-let (BTL) product range, with rates falling by as much as 0.25%. The lender has reduced its five-year standard products, along with its two-year standard and like-for-like remortgage products by the same amount. Standard two-year fixed products now start from 4.04%, while the standard five-year fix starting from 4.69%. Both are available up to 75% LTV. Furthermore, the standard like-for-like two-year fix starts from 4.64% at up to 75% LTV.

Hanley Economic Building Society has reduced rates by up to 1.24% on a pair of variable discount for term retirement interest-only (RIO) mortgages for borrowers with or without a lasting power of attorney (LPA) or a continuing power of attorney (CPA), as it is known in Scotland. The variable discount for term RIO mortgage requiring an LPA/CPA has an initial pay rate of 5.20%, representing a 3.29% discount from society’s standard variable rate, and is available up to 50% LTV for purchase and remortgage purposes. The product pair has no ERCs and no overpayment restrictions to help support borrowers and intermediaries in their later life lending requirements, In a bid to reduce upfront fees, these come with a free valuation alongside no application or arrangement fees and also benefit from £250 cashback.

Market Financial Solutions (MFS) has renewed and upsized multiple institutional funding lines of over £1bn to fuel the growth of the lender’s loan book in response to rising demand for specialist finance. The additional capital from multiple institutional investors enhances MFS’s capacity to offer a range of financial products including bridging, BTL, its new bridge fusion range and commercial real estate loans to address the market demand for larger and more versatile financing options.

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