Leeds launches new Buy to Let deals to meet purchaser needs
Two new fixed rate mortgages have been launched by Leeds Building Society for the Buy to Let purchase market:
- Two year fixed rate mortgage at 2.00%, available up to 60% LTV (Loan to Value)
- Two year fixed rate mortgage at 2.40%, available up to 70% LTV
Each mortgage comes with a free valuation for properties worth up to £500,000 and is available for purchase only.
“Perhaps unsurprisingly, there was a peak of activity in the Buy to Let market earlier this year before the Stamp Duty increases came into force,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.
“Despite tax changes and forthcoming regulatory changes, the UK continues to benefit from a strong demand for rental properties.
“Buy to Let provides a natural complement to home ownership. A stable housing market requires a healthy equilibrium, with rental properties enabling greater flexibility and employment mobility.”
Leeds Building Society continues to support this important market and will lend on one to four properties, where the borrower’s total portfolio does not exceed eight units.
Notes to Editors
To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Development contact.
Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.
The Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year it 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.