MortgagesSep 19 2014

Leeds launches new 5-year BTL deals

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Leeds Building Society has launched a new range of buy-to-let mortgages, including two 5-year fixed rates.

The 5-year deals, available from today (19 September), include a 3.69 per cent rate up to 60 per cent loan-to-value and a 3.99 per cent rate up to 70 per cent LTV.

The society has also reduced rates on two 3-year fixed buy-to-let mortgages by up to 0.40 per cent.

Its 3-year fix at 3.09 per cent, reduced from 3.49 per cent, is available up to 60 per cent LTV and a 3.39 per cent fix, reduced from 3.69 per cent, is available up to 70 per cent LTV.

In addition, Leeds has launched a 3-year fixed rate fees assisted buy-to-let mortgage up to 60 per cent LTV at 3.39 per cent, reduced from 3.69 per cent and a 3-year fixed rate fees assisted buy-to-let mortgage up to 70 per cent loan-to-value at 3.59 per cent, reduced from 3.99 per cent.

The buy-to-let product changes follow an increase this week to procuration fees on buy-to-let and holiday let mortgages through intermediaries.

All new fixed rate deals come with benefits including a free standard valuation up to £335 and fees assisted legal services for standard remortgages. There are fees assisted alternatives to the new 5-year fixed rate mortgages.

Martin Richardson, general manager for business development at Leeds Building Society, said: “These latest buy-to-let mortgages come with a range of benefits, including a free standard valuation and fees assisted legal services.

“We’ve refreshed our range following broker and customer feedback and the fees assisted versions of the products offer additional choice, depending on the borrower’s individual needs, including those homeowners who are looking to remortgage.”