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*.”
*The property must be used for holiday let purposes only.