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Leeds Building Society launches buy-to-let fixed rate
This article is an external press release originally published on the Landlord News website, which has now been migrated to the Just Landlords blog.
Leeds Building Society has today announced the launch of a new 2 year buy-to-let fixed rate at 70% LTV.
This new product will be exclusively available to the LSL group, which includes the TMA Mortgage Club.
Buy-to-let fixed rate
The product is to be fixed at 2.49% to August 31st 2018 and comes with no booking fee. In addition, there is a free valuation for properties worth up to a value of £2m. The scheme also provides fees assisted legal services for remortgages as standard.
David Copland, Director of Mortgage Services at LSL Financial Services, observed, ‘once again we see Leeds Building Society being supportive of Directly Authorised firms and in particular TMA. We are delighted to be offering this product as an exclusive with a reasonable fee, a great rate and a practical rental yield calculation.’[1]
Jaedon Green, Director of Product and Distribution at Leeds Building Society, also noted, ‘the buy-to-let market is going through a lot of change at present and landlords are in a period of adjustments as the new regulations and phased tax changes take effect.
‘We’re mindful of this as we work closely with our intermediary partners to develop products which will assist and appeal to landlords,’ Green added.[1]
Leeds Building Society launches buy-to-let fixed rate
Lows
The news comes after recent research revealed that average fixed rates for two, three and five year mortgage deals in the UK are their lowest levels since 2012.
Underlining the value offered by the new deal from Leeds Building Society, the average two-year fixed rate is currently 2.9%.
[1] http://www.propertyreporter.co.uk/finance/leeds-launches-new-btl-2-year-fix.html
