1.14% BTL 2 year discounted but with a 3 year sting in the tailMake Text Bigger
The Leeds Building Society has launched 2 new headline catching Buy to Let mortgages that are both two year discounted rates priced to reflect the maximum Loan to Value:
1.14% two year discounted variable followed by 3 years SVR minus 1% currently = 4.99% with a £2499 product fee. Maximum LTV of 60%
1.34% two year discounted variable followed by 3 years SVR minus 1% currently = 4.99% with a £2499 product fee. Maximum LTV of 70%
Leeds BS director of product and distribution, Jaedon Green, said: “Widening our range of discounted residential mortgage was well received so we’ve seen that there’s an appetite for variable rate deals with the potential for lower monthly repayments than equivalent fixed rate mortgages among borrowers who don’t expect interest rates to increase significantly in the near future.”
“The past couple of years have seen a lot of change for landlords, with the introduction of new rules for portfolio landlords and wide ranging tax changes, the impact of which is still being felt. For that reason, we know landlords need to take a far more active role in managing their portfolio to maximise yield and making sure they have the best deal on their mortgage finances.”
Click here to view their entire BTL product range.
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