Tag Archives: Leeds Building Society

Leeds Building Society BuytoLet rates cut by up to 0.7% Buy to Let News, Landlord News, Latest Articles, Property News

Low Value Buy to Let mortgagesThe Leeds Building Society has cut its BuytoLet rates buy up to 0.7% on selected products whilst keeping low fixed fees and continuing to offer products at 80% Loan to Value.

Headline rates include:

3.29% 2 year discount followed by a 3 year discount at 4.99%. (This is based on the Leeds variable rate of 5.99% minus 2.7% for 2 years and minus 1% for the next 3 years) Reverting then to the Variable rate at 5.99% for the term of the loan.Maximum LTV 70%, Completion fee £800 and booking fee £199, Tapered early repayment charges of 4% year 1 and 3% year 2 only.

4.99% 2 year fixed 80% LTV until 31/08/2015 followed by 4.99% discounted until 31/08/2018 reverting to the variable rate at 5.99% for the term of the mortgage. Completion fee £800 and booking fee £199. Tapered early repayment charges until 31/08/2015

Kim Rebecchi, Leeds Building Society Sales and Marketing Director said: “We are very pleased to support landlords and with interest rates at a historic low, we believe it’s a good time to lock into a low fixed rate for greater certainty of cash flow.”

“Our 2 Year fixed rate buy to let deal has no higher lending charge, and allows 10% capital repayments each year without penalty.”

“Landlords are faced with a plethora of mortgage products and many lenders have chosen to introduce lower rates at the expense of higher product fee. I’m delighted to be making genuine reductions that support our customers – our fees remain unchanged.”

Standard Leeds Criteria:

  • Rental stress testing at 125% interest cover on 5.99% notional rate = You can borrow 160.26 times the monthly rental
  • Min Property value £50,000 or £85,000 with a London postcode and £70,000 in the South East
  • Maximum portfolio size regardless of Lender = 4
  • Minimum income for applicants of £20,000 per annum

To search for more of the most popular BuytoLet products and Lenders including how much you can borrow please feel free to use our BuytoLet Mortgage Calulator CLICK HERE

If you require assistance on a BuytoLet purchase or remortgage please email info@property118.com or call us on 01603 489118


Leeds Building Society BuytoLet two and three year products discounted Landlord News, Latest Articles, Property News

Leeds Building Society BuytoLet department have discounted their two and three year products whilst keeping their 5 year deals at the same level.

These are 65 and 70% Loan to value products with an attractive initial rate and good value fixed fees of £999 that really do benefit the larger loan over percentage based fees. This proves there is still value to be found in the market provided there is a sufficient level of equity in a property to reduce a lenders perceived risk. Product details can be seen below:

Continue reading Leeds Building Society BuytoLet two and three year products discounted


Life Insurance for Landlords – IFA readers letter Buy to Let News, Cautionary Tales, Financial Advice, Landlord News, Landlords Insurance, Latest Articles, Property Investment News, Property Investment Strategies, Property News

Howard Reuben

IFA Howard Reuben

As an avid reader of Property118.com I was very interested to read a couple of recent articles 1) Should landlords buy life insurance and 2) What happens when a landlord dies –  both of which touched on the subject of what happens to the BTL mortgage contract if a borrower / landlord dies and also what happens to the property(ies) in this situation too.

What caused me to carry out some further detailed research in this matter, however, is that it was quite clear, not only from the comments left by readers but from my own experience as a Financial Adviser with 20 years business practice working in the BTL mortgage and insurance sector, and also as a portfolio landlord myself, that different people think different things will happen to their estate when they die. Continue reading Life Insurance for Landlords – IFA readers letter


Buy to Let mortgage market and products update Landlord News, Latest Articles, Property News

The good news is that confidence and competition in the buy to let market has stood firm in the face of other economic concerns such as the problems in Europe.

The Mortgage Works, who are one of the leading buy to let lenders in terms of market share and product range, have extended all their product terms by two months keeping interest rates and loan to values including 80% the same. Continue reading Buy to Let mortgage market and products update


Booming Buy to Let Reality Check for Landlords Buy to Let News, Latest Articles, Mortgage News, Property Investment News

Buy to let mortgage lenders are creaming off the best borrowers and leaving the rest without any real hope of raising loans.

The reality of the market is more lenders are swooping like sharks in a feeding frenzy on landlords with the best credit ratings and highest rental yields, although they would have property investors believe they are helping swell the number of properties in their portfolios. Continue reading Booming Buy to Let Reality Check for Landlords


Islamic Bank Offers Buy to Let Loans for First Time Buy to Let News, Latest Articles, Mortgage News

Islamic Bank of Britain has joined the throng as the latest lender to offer buy to let mortgages to landlords.

The IBB will consider applications from landlords of any faith for a Sharia-compliant mortgage.
The mortgage package is a 75% loan-to-value deal at 5.49% variable with a 1% arrangement fee. Continue reading Islamic Bank Offers Buy to Let Loans for First Time


New Tracker Lender for Buy to Let Buy to Let News, Latest Articles, Property Investment News, Property Market News

Street with 'To Let' signs outside most houses
“State Bank of India set to enter the buy to let market”

A new buy to let mortgage lender is about to enter the market with broker-only deals.

The State Bank of India (SBI) has announced preparations to offer a 60% loan-to-value (LTV) tracker at 3.9%.

The first applications will be handled in branches and then opened to brokers and independent financial advisers.

The bank is accepting deals for loans between £50,000 and £1.5 million, and charges a £150 booking fee and £1,990 closing fee. No early redemption payments are charged.

SBI has 10 branches, mainly in and around London.

Leeds Building Society has launched a new five year 4.99% fixed rate buy to let mortgage at 70% LTV.

The closing fee is £1,299 and the lender allows borrowers make 10% capital repayments a year without penalty.

Borrowers are also being offered a free valuation and a legal service for remortgages in a bid to tempt them in.

Meanwhile, Kensington has pulled all 85% LTV buy to let mortgages; Skipton Building Society has raised the tracker rates from 3.24% to 3.59% and Aldermore Bank has stopped offering fixed rate deals.

Replacement deals are at more expensive interest rates or charge more fees.

Despite a flurry of activity among lenders, the market is still dominated by the big two – BM Solutions, owned by the Lloyds Banking Group, and The Mortgage Works (TMW), a Nationwide Building Society subsidiary

These landlord lenders have around a 90% share of the market.

The buy to let market has around 30 bank, building society and finance house lenders offering about 2,600 different loan deals at an average 23% loan-to-value.

Santander is the latest big name lender considering entering the property investment market. A spokesman has confirmed the bank is ‘considering’ buy to let loans to non-professional landlords.


Buy to let landlords offered choice of 463 mortgage deals Latest Articles

Businessman handshake in the cityLenders are encouraging buy to let landlords to invest in more property by increasing the number of mortgages and dropping interest rates.

Independent financial information firm Moneyfacts monitors the market and has disclosed borrowers can choose from around 463 buy to let deals – 55% up on the 299 mortgages offered 12 months ago.

Continue reading Buy to let landlords offered choice of 463 mortgage deals


Buy to let mortgage options double for landlords Latest Articles

Buy to let borrowers and property investors can choose from almost 300 mortgage packages – more than double the number available a year ago.

Competition between banks and building societies has hotted up as more lenders joined the market, and is set to intensify as more prepare to start lending in the coming months. Continue reading Buy to let mortgage options double for landlords


Property Forum and News website where UK landlords and letting agents share best practice