Leeds cuts the cost of mortgages for landlords
Leeds Building Society has reduced rates on selected two- and five-year fixed rate buy-to-let products.
The lender said that highlights of the reductions include a two-year fixed buy-to-let mortgage at 1.49%, available up to 60% LTV (loan to value) with a £1,999 product fee, and a 2.15% five-year fix with a £999, also up to 60% of the property’s value.
Both products come with a free standard valuation and fees assisted legals.
Matt Bartle, Leeds Building Society’s director of products, said: “The choice and variety of mortgages for landlords in the buy-to-let sector continues to grow. We’ll keep reviewing and improving our product range to ensure we meet the needs of borrowers.
“Recent years have brought about significant changes for landlords, including increased tax liabilities and new regulations.
“Our reduced five-year fixed rate deal is market leading in terms of true cost, while providing the opportunity for landlords to reduce the impact of tax changes and actively manage their portfolios to protect yield.”
The latest rate reductions follow the recent launch of the Society’s Easy Start mortgage, with a 0% interest rate for the first three months of the mortgage.