Responding to continued demand for buy to let lending, Leeds Building Society has announced reductions in the headline rate on a number of competitive landlord mortgages.
These products are available whole of market and the associated fees remain unchanged at £999:
– 2 year fixed rate Buy to Let rate reduced by 0.59% from 3.99% to 3.40% (available up to 75% LTV)
– 2 year discounted Buy to Let rate reduced by 0.70% from 3.99% to 3.29% (available up to 70% LTV)
Kim Rebecchi, Leeds Building Society Sales and Marketing Director said:
“We are very pleased to support landlords and with interest rates at a historic low, we believe it’s a good time to lock into a low fixed rate for greater certainty of cash flow.
“Our 2 Year fixed rate buy to let deal has no higher lending charge, and allows 10% capital repayments each year without penalty.”
Whilst landlords with a loan to value of 75% or below have an increasing choice of Buy to Let mortgages, product availability above 75% remains limited. Leeds Building Society offers a 2 year fixed rate Buy to Let mortgage at 4.99% for landlords with an LTV of up to 80%.
Kim added, “Landlords are faced with a plethora of mortgage products and many lenders have chosen to introduce lower rates at the expense of higher product fee. I’m delighted to be making genuine reductions that support our customers – our fees remain unchanged.”
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