Leeds cuts buy-to-let rates
Leeds Building Society has reduced rates on selected 2 and 5-year buy-to-let products.
There’s a 1.49% 2-year buy-to-let mortgage at 60% LTV with a £1,999 product fee and a 2.15% 5-year buy-to-let mortgage available at 60% LTV with a £999 product fee. 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 5-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.”
This follows the introduction of the easy start mortgage with a 0% interest rate for the first three months of the mortgage, and the launch of bespoke small and large HMO products.