Leeds BS adds new BTL product and cuts rates

Leeds BS adds new BTL product and cuts rates

The Leeds Building Society has announced a new buy-to-let mortgage product and a series of rate reductions.

The new product is an 80% loan-to-value (LTV) two-year fix at 2.94%. This offer 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, commented: “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.”

Notable products which have seen rate reductions include the 80% LTV two-year fix from 3.44% to 3.29% 

In addition, the 80% LTV five-year fix has been reduced from 3.69% to 3.59%. 

Another 80% LTV five-year fix has also been cut, from 3.94% to 3.84%.

Bartle added: “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.”