The Leeds Building Society is launching a new buy-to-let two year fixed rate mortgage as part of a revamp of its proposition.
The 80% loan to value (LTV) product at a rate of 2.94% and 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 two 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.”
In addition, the society has cut rates on selected buy-to-let mortgages by up to 0.15 percentage points.
Highlights of the range refresh include:
- 3.29% buy-to-let two year mortgage up to 80% LTV (0.15% percentage points) with a £999 fee
- 3.59% buy-to-let five year mortgage up to 80% LTV (0.10% percentage points) with a £999 fee
- 3.84% buy-to-let five year mortgage up to 80% LTV (0.10% percentage points) with no fee
All of these products come with a free standard valuation and fees assisted legal services.
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.”