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Buy to Let

Leeds and Halifax launch five-year fixed rate deals

Samantha Partington
Written By:
Samantha Partington
Posted:
Updated:
11/02/2015

Leeds Building Society and Halifax have launched five-year fixed rate mortgages for buy-to-let, home mover and first-time buyer borrowers.

Leeds is offering a buy-to-let 60% loan-to-value (LTV) deal at 3.69% and a 70% LTV option with a rate of 3.99%.

Halifax’s five-year fixed rates are aimed at residential first-time buyers and home movers up to 90% LTV at 5.29%. The product carries a fee of £999 or for borrowers who want a fee-free alternative a rate of 5.49% is available.

Both lenders have reduced rates across their ranges adding to the list of banks and buildings societies which have been gradually undercutting each other throughout September.

Nationwide has been the most aggressive competitor in the rates war. After cutting fixed and tracker rates by up to 0.70% leaving its two-year fixed deal sub-2%, the building society launched its price match promise.

The aim of the campaign is to stop existing customers remortgaging away from the society if a cheaper rate is available.