Buy-to-letNews

Leeds introduces fee-free BTL products up to 60% LTV

Leeds Building Society has introduced a range of fee-free buy-to-let (BTL) mortgages, available up to 60% loan-to-value (LTV).

The products are: a 2.04% 2-year fixed-rate product with no product fee and a 2.14% 5-year fixed-rate product with no product fee.

Customers will benefit from a free standard valuation and fees assisted legal services are available on standard remortgages.

The latest launch follows news that the BTL market remained buoyant in Q3 of this year, with many landlords looking to take advantage of the stamp duty holiday.

Last month, research from BVA BDRC found landlords in all parts of the UK other than London reported an increase in tenant demand, and 83% reported making a profit.

Matt Bartle, director of products at Leeds Building Society, said: “We’ve brought back our fee-free buy-to-let products to give landlords more choice in selecting the right mortgage deal for them.

“These mortgages, which have been very popular in the past, give customers the benefits of a competitive fixed rate while removing the up-front product fee.

“Whether landlords want to expand their portfolio with a new buy-to-let investment, or remortgage an existing property to a more advantageous rate, we are pleased to be able to offer our customers a broad range of product options to suit their needs.”

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