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Leeds launches landlord mortgage with £1k cashback

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14/01/2019
The mutual has doubled the cashback available on its buy-to-let mortgages to help landlords with the upfront costs of renting out a property
Leeds launches landlord mortgage with £1k cashback

Leeds Building Society has doubled the cashback on offer to landlords on selected buy-to-let mortgages.

Cashback on the Society’s two- and five-year fixed rate buy-to-let products have been increased from £500 to £1,000.

The lender said that the boost can help landlords with the finishing touches and costs associated with finding tenants for a new property.

The cashback is available on the following two mortgages, both of which are fee-free and come with a free valuation:

  • A 2.69% two-year fix up to 60% of the property’s value
  • A 2.74% five-year fix available up to 60% of the property’s value.

Matt Bartle, Leeds Building Society’s director of products, said: “We’ve increased the cashback incentives available on some of our buy to let products while maintaining our product rates.

“Of course, landlords can choose how to spend the £1,000 cashback available. Cash freed up at the start of the mortgage could go towards redecorating costs and fees associated with finding tenants.

“Increasing cashback is a further example of how we’ve used our expertise and experience in the market to understand and respond to the needs of customers.”

The launch of the products follows the introduction of the Easy Start Buy To Let mortgage, with an interest rate of 0% for the first three months.

 

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