Leeds Building Society’s five year fixed rate buy to let mortgage at 4.99 per cent, available up to 70 per cent LTV, allows 10 per cent capital repayments each year without penalty and there is no higher lending charge.
The 4.99 per cent rate is the lowest currently available in the market, when also taking into account the Society’s fixed fee of £1,299. Previously, Leeds had higher versions available at 5.69 per cent up to 60 per cent LTV and 5.99 per cent up to 65 per cent LTV, but its standard, lower rate of 4.99 per cent can now be obtained up to 70 per cent LTV.
Kim Rebecchi, Leeds Building Society’s sales and marketing director said, “We have delivered certainty and peace of mind, not only in terms of a fixed monthly payment but also with a fixed fee. Clearly, this is of significant benefit to those landlords looking to budget and manage their portfolio.
“We believe it’s a very good time to lock into a low fixed rate, and this product will attract professional landlords who may wish to move onto a highly competitive rate and fix their monthly commitments.
“The Society also has a fees assisted version of this product available, with a free valuation up to £335 and free in-house legal services for re-mortgages. This will benefit first time landlords requiring help with up front costs.”
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