Leeds makes cuts across BTL range

Leeds Building Society has cut rates on select purchase and remortgage buy-to-let products.

Targeted products include the lender’s 60 per cent LTV two-year fix, which has been reduced from 1.64 per cent to 1.49 per cent, and the 60 per cent LTV five-year fix, which has been cut from 2.29 per cent to 2.15 per cent.

Both offers include free standard valuation up to £999, 10 per cent penalty free over-repayments per year and have a product fee of £1,999.

Furthermore, the two-year offer has a tapered ERC at 3 per cent in the first year of the mortgage, declining to 2 per cent in the last.

The five-year product also has a tapered ERC, set at 5 per cent for the first two years of the mortgage, declining year-on-year to 2 per cent in the final year.

Leeds Building Society director of products Matt Bartle comments: “The choice and variety of mortgages for landlords in the BTL sector continues to grow.

“Recent years have brought about significant changes for landlords, including increased tax liabilities and new regulations.

“Our reduced five-year fixed rate deal is market leading in terms of true cost, while providing the opportunity for landlords to reduce the impact of tax changes and actively manage their portfolios to protect yield.”

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