Leeds BS 

Leeds launches discounted BTL range

"What really stands out to me is that they actually undercut Leeds’ residential discounts which start at 1.47 per cent. Not withstanding the lower (£999) fee, that is quite exceptional in itself."

But Mr Gettins suggested the low rate and high fee meant the deals were best suited to larger loans of above £250,000.

He said: "The main issue I see is that loans of this size can struggle to meet the stressed rent requirements – though Leeds does at least ease it a bit for pound to pound remortgaging."

He added: "A potential negative for landlords is that early repayment charges apply within the discount period. Often with a variable rate, especially one set at the lender’s discretion, borrowers prefer the ability to get out should rises become excessive.

"That said, the way these deals are pitched should attract those best able to cope with any increases, and I’m sure they’ll be attractive to many landlords – especially in high value areas."

carmen.reichman@ft.com