Mortgages  

Leeds BS adds to its buy-to-let tracker range

Leeds BS adds to its buy-to-let tracker range

Leeds Building Society has added four products to its buy-to-let tracker range.

The lender now offers two-year buy-to-let trackers at 60 per cent loan-to-value, with a 1.46 per cent rate with a £999 fee and 1.29 per cent rate with a £2,499 fee.

A 70 per cent loan-to-value tracker is also available at 1.82 per cent with a £999 fee and 1.46 per cent with a £2,499 fee.

Jaedon Green, director of product and distribution at Leeds Building Society, said despite the recent Bank base rate rise there was still a place for tracker mortgages for landlords looking to make the most of their portfolio.

He said: "The Bank of England has indicated that the era of low interest rates could last another 20 years with market expectations that the next Bank base rate rise is at least a year away.

"In this environment, our two-year buy-to-let tracker range compares favourably with the equivalent fixed rate products - while fixed rates offer certainty of payment, there is a tendency to overlook trackers, which, with the current expectations on future base rate increases could offer better value over the two year period."

Mr Green said the range also provides the opportunity for landlords to reduce the impact of tax changes and actively manage their portfolios to protect yield.

Despite tax and regulatory changes in the recent years, research released earlier this week found 52 per cent of landlords felt optimistic about their position in the current economic and political climate. 

rachel.addison@ft.com