It has reduced rates for holiday let mortgages – loans intended for people to buy a second home which they also rent out – by up to 0.3%

The Yorkshire-based mutual is one of a small number of lenders to offer mortgages specially designed for holiday lets.

The new range includes a two-year fixed rate mortgage at 2.64% (reduced from 2.94%), available up to 60% loan-to-value (LTV), with a £999 fee.

A two-year fixed rate mortgage at 3.14% (reduced from 3.24%) is on offer up to 70% LTV, with a £999 fee.

In addition a two-year fixed rate fees assisted mortgage at 3.04% (reduced from 3.24%) up to 60% LTV, with a £199 fee is available.

In addition, Leeds is reducing the rate of its two-year discount holiday let mortgage to 2.59%, from 2.79%, up to 70% LTV with a £999 fee.

All products come with a free valuation and fees assisted legal services.

“We have particular expertise in holiday let mortgages, which are a growing market as more people look to enjoy a ‘staycation’ in the UK,” said Martin Richardson, Leeds Building Society’s general manager – business development

“It’s not difficult to understand why interest in holiday home ownership is on the rise. When you think that a main family holiday, with maybe a shorter break at another time of the year, could cost more than £3,000 – you could fund a holiday let mortgage for the same amount, and receive income from letting the property for the weeks you’re not using it.”