Back to July 2015

Holiday let mortgage range refreshed by Leeds Building Society

Leeds Building Society has reduced rates by up to 0.30% on its competitive range of holiday let mortgages.

From Monday 6th July the Society is cutting the following rates:

  • Two year fixed rate mortgage at 2.64% (reduced from 2.94%) up to 60% LTV (loan to value), with a £999 fee;
  • Two year fixed rate mortgage at 3.14% (reduced from 3.24%) up to 70% LTV, with a £999 fee;
  • Two year fixed rate fees assisted mortgage at 3.04% (reduced from 3.24%) up to 60% LTV, with a £199 fee.

In addition, the Society is reducing the rate of its two year discount holiday let mortgage to 2.59%, from 2.79%, which is available up to 70% LTV, with a £999 fee.

The Society is unusual in offering a range of mortgages specifically for the holiday let market and all these products come with a free valuation and fees assisted legal services.

“We have particular expertise in holiday let mortgages, which are a growing market as more people look to enjoy a ‘staycation’ in the UK,” said Martin Richardson, Leeds Building Society’s General Manager – Business Development.

“It’s not difficult to understand why interest in holiday home ownership is on the rise. When you think that a main family holiday, with maybe a shorter break at another time of the year, could cost more than £3,000 – you could fund a holiday let mortgage for the same amount, and receive income from letting the property for the weeks you’re not using it.”

Ends

Notes to Editors

Awards won by Leeds Building Society in the past 12 months include the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2015, in addition to being named ‘Best Intermediary Lender’, both for the second consecutive year. The Society also received the award for ‘Best Use of Technology (Lenders)’.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 31st December 2014). The Society has operated from the centre of Leeds since 1886.