Goal of the release:
- Increase some fixed rates, decrease 2 year tracker rates, and release new products, to be aligned with change of funding costs (particularly 2y fixed)
Summary of changes:
- New 2 year tracker products and small HMO/MUFB 5 year fixed products (7 products)
- Increase of rate and decrease of max loan amount for some fixed products (73 products)
- Decrease of 2 year tracker rates (9 products)
- Link to new products https://landbay.co.uk/intermediaries/products-and-btl-calculator/
Withdrawal timeline and submission deadlines
- The old products were pulled on Friday at midnight – they are no longer selectable in the broker portal
- Anyone who had selected the product before Friday at midnight, has until midnight on Tuesday to submit their application, accept the app form and pay the admin fee to secure the rate
- An email has been sent to brokers today outlining the above