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About 4 weeks ago 97
The Leeds building society is offering a welcome start of 0% for Buy to Let purchasers on their new range of ‘Easy Start’ products.
Welcome is designed to allow BTL customers breathing space when their finances are most stretched after the initial cost of purchase.
Leeds Building Society’s director of product and distribution,Jaedon Green, said: “Easy Start could take away some of the pressure on landlords during an initial void period. Our Welcome Mortgage won awards and industry praise so we looked at how we could tailor its benefits for buy-to-let borrowers.”
“When they first buy a property they might need to decorate or carry out refurbishments before tenants can move in, so clearly there’d be no rent coming in over that time. Cash freed up at the start of the mortgage could go towards a higher-quality fit-out to help to secure a better rental return.
“If the landlord chooses to borrow on an interest only basis, Easy Start means there would be no repayments in the first three months.
“This innovation is the latest example of how we’ve used our insight and expertise in the buy-to-let market to understand and respond to customer need.”
All the Easy Start products are a 5 year fixed rate with a free valuation added to keep costs down further.
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