The Leeds Building Society has cut rates on selected buy-to-let mortgages by up to 0.16 percentage points.
The mutual has also introduced new cashback incentive.
It is now offering a 1.69% two year buy-to-let fixed rate mortgage up to 60% (loan to value (LTV) with a £999 fee.
Tthe range has also been expanded to include new five-year fixed rate buy-to-let cashback products.
The new £1,000 cashback incentive products, which include a free standard valuation and fees assisted legal services for remortgages, comprise:
- 2.94% five year buy-to-let mortgage available up to 60% LTV with no fee
3.11% five year buy-to-let mortgage available up to 70% LTV with no fee
Matt Bartle, Leeds Building Society’s director of products, said: “We’ve refreshed and diversified our buy-to-let mortgage range by reducing rates on selected fixed rate products and introducing new cashback incentives.
“Cash freed up at the start of a mortgage is often important for landlords. Of course, landlords can choose how to spend the £1,000 cashback but it could go towards redecorating costs and fees associated with finding tenants.”
As part of the range refresh, the Society has also launched new two year fixed rate buy-to-let products, including:
- 1.49% two year buy-to-let mortgage available up to 60% LTV with a £1,999 product fee
- 1.69% two year buy-to-let mortgage available up to 70% LTV with a £1,999 product fee
Matt added: “The rate reductions, £1,000 cashback products and the new two year fixed rates have increased the choice available within our buy-to-let range. Our range refresh is another example of how we use experience within the market to understand and respond to the needs of customers no matter what their individual circumstances.”
