Leeds Building Society has launched two fixed rate mortgages for the buy-to-let purchase market.
The first is a two year fixed rate mortgage at 2.00 per cent, available up to 60 per cent loan to value.
Also launched is a two year fixed rate mortgage at 2.40 per cent available up to 70 per cent LTV
Each mortgage comes with a free valuation for properties worth up to £500,000 and is available for purchase only.
“Perhaps unsurprisingly, there was a peak of activity in the BTL market earlier this year before the stamp duty increases came into force,” said Jaedon Green, Leeds Building Society’s director of product and distribution.
“Despite tax changes and forthcoming regulatory changes, the UK continues to benefit from a strong demand for rental properties.
“Buy-to-let provides a natural complement to home ownership. A stable housing market requires a healthy equilibrium, with rental properties enabling greater flexibility and employment mobility.”
Leeds Building Society will lend on one to four properties, where the borrower’s total portfolio does not exceed eight units.