Back to August 2017

Cashback deals added to Leeds Buy to Let range

Leeds Building Society has added new £500 cashback deals to its Buy to Let mortgage range to help borrowers who want to choose their own conveyancer.

The new deals are:

  • 2.45% two year fixed rate Buy to Let mortgage up to 60% LTV (loan to value)
  • 2.80% two year fixed rate Buy to Let mortgage up to 70% LTV
  • 2.74% five year fixed rate Buy to Let mortgage up to 60% LTV
  • 3.25% five year fixed rate Buy to Let mortgage up to 70% LTV

In addition, all come with a free standard valuation and no completion fee.

“We’ve listened to brokers and have introduced these latest cashback products in response to the ongoing pressures within the remortgage conveyancing market,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.

“By offering £500 cashback, we’re giving brokers and their customers the option to choose their own conveyancer, which could speed up the process.

“The move is another example of the Society’s commitment to supporting landlords and the Buy to Let market.

“We’ve recently announced our readiness for the new PRA (Prudential Regulation Authority) rules on portfolio landlords, such as increasing our maximum portfolio size from eight to 10 mortgaged rental properties.

“These improvements follow changes we introduced at the start of the year, such as increasing Interest Coverage Ratio (ICR) and removing the minimum income requirement.”

Ends

Notes to Editors

Cashback  Fee Saver two year fixed rate Buy to Let mortgage at 2.45% up to and including 31st October  2019:

  • 2.45% fixed up to and including 31st October 2019
  • Followed by 1% discount for three years
  • Available up to 60% LTV
  • £500 cashback
  • Free standard valuation on properties worth up to £1m
  • No completion fee
  • Available for purchase or remortgage.

Cashback  Fee Saver two year fixed rate Buy to Let mortgage at 2.80% up to and including 31st October  2019:

  • 2.80% fixed up to and including 31st October 2019
  • Followed by 1% discount for three years
  • Available up to 70% LTV
  • £500 cashback
  • Free standard valuation on properties worth up to £1m
  • No completion fee
  • Available for purchase or remortgage

Cashback  Fee Saver five year fixed rate Buy to Let mortgage at 2.74% up to and including 31st October  2019:

  • 2.74% fixed up to and including 31st October 2022
  • Available up to 60% LTV
  • £500 cashback
  • Free standard valuation on properties worth up to £1m
  • No completion fee
  • Available for purchase or remortgage

Cashback  Fee Saver five year fixed rate Buy to Let mortgage at 3.25% up to and including 31st October  2022:

  • 3.25% fixed up to and including 31st October 2022
  • Available up to 70% LTV
  • £500 cashback
  • Free standard valuation on properties worth up to £1m
  • No completion fee
  • Available for purchase or remortgage

Leeds Building Society was named Best Building Society Savings Provider in the Moneyfacts Awards for 2017, having also won this title in 2016. 

The Society won the title of Best Shared Ownership Mortgage Lender in the 2017 What Mortgage Awards, its second consecutive year of success in this category.

Leeds Building Society operates throughout the UK, Gibraltar and Ireland and has assets of £17.3bn at 30th June 2017 (£14.9bn at 30th June 2016). The Society’s head office has been based in the centre of Leeds since 1886.