Leeds returns to HMO lending
Leeds Building Society has returned to houses in multiple occupation (HMO) lending adding new mortgages for small and large shared houses to its product range.
Highlights of the range include a 3.27% 2-year fixed rate, available up to 60% loan to value (LTV) for small properties and a 3.60% 2-year fixed rate, available up to 75% LTV for large properties.
Both products are launched tomorrow (2 Nov) and come with a free standard valuation and each has a £999 product fee.
Matt Bartle, director of products at Leeds Building Society, said: “We’re pleased to be able to announce our return to HMO lending as we continue to seek ways to support landlords in the evolving buy-to-let market.
“As we start to move forward following the pandemic, we’re starting to see more students back at university or applying for courses in our university towns and cities, which may be of interest to those landlords seeking new opportunities.
“Our range of products and lending criteria is under constant review and it’s important to us to work closely with our broker partners to be able to assist borrowers who are not well served by the wider market.
“We also recognise that a healthy housing market needs a mix of tenures, including homes to rent.”