Leeds BS unveils new BTL mortgage

Leeds Building Society has launched a 2-year fixed rate buy-to-let mortgage at 80% LTV.

The product, priced at 2.94%, comes with a free standard valuation, fees assisted legal services for remortgages and a £2,499 product fee.

Matt Bartle, director of products at Leeds Building Society, said: “Recent years have seen a variety of changes for landlords, including new rules for portfolio landlords and tax changes that continue to affect those operating in the private rented sector.

“We know these changes mean landlords are more actively managing their property portfolios to maximise their yield and making sure they have the best deals on their mortgages.

“Our new 2-year mortgage has enhanced the choice available to landlords and we continue to use our expertise and experience in the market to meet the needs of this important sector.”

The society has also reduced rates on selected buy-to-let mortgages by up to 0.15%.

Key highlights include the 2-year fix at 80% LTV reduced to 3.29% and a 5-year fix at 80% LTV down to 3.29%.

Both products come with a £999 product fee.

Bartle added: “We keep our mortgage products under review and these rate reductions are part of our efforts to improve our proposition for landlords.

“We continue to work closely with our intermediary partners to better understand and meet their needs, and those of their clients.”

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