Back to May 2016

Leeds Building Society offers new BTL mortgage with no ERCs

Leeds Building Society has extended its range of competitive Buy to Let mortgages by launching two new fixed rate mortgages without Early Redemption Charges (ERCs).

The deals are:

  • Two year fixed rate Buy to Let mortgage at 2.50% available up to 60% LTV (loan to value)
  • Two year fixed rate Buy to Let mortgage at 3.15% available up to 70% LTV

Each mortgage comes with a free valuation, fees assisted legal services for standard remortgages, and has a £1,999 fee.

“These latest additions to our competitive Buy to Let mortgage range offer borrowers extra flexibility through the absence of penalties for early redemption,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.

“There have been a lot of changes affecting the Buy to Let market in recent months and the phased introduction of new regulation and tax treatment requires a period of adjustment for landlords.

“Change creates uncertainty, hence our timely introduction of these latest Buy to Let deals.

“The absence of ERCs means landlords can evolve their approach to the emerging legislation while retaining a degree of flexibility.”

Ends

Notes to Editors

Leeds Building Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year the Society has won this category, as well as the award for ‘Product Innovation (Lenders)’.

The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.

Independent consumer group Fairer Finance has awarded the Society its Gold Ribbon rating for savings and Silver Ribbon rating for mortgages, based on customer scores for happiness, trust, complaint handling and transparency.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £13.5bn (at 31st December 2015). The Society has operated from the centre of Leeds since 1886.