Two year discount Buy to Let mortgage deal reduced by Leeds Building Society
Leeds Building Society's two year discount Buy to Let mortgage is becoming even more competitive this week.
On Thursday (9th October), the Society is reducing the two year fees assisted deal by 0.30% to 2.79%.
The discount mortgage is available up to 70% LTV and comes with the added benefits of a low £199 fee, a free standard valuation up to £335 and fees assisted legal services for standard remortgages.
"This latest rate reduction further increases the choice across our competitive range of Buy to Let and Holiday Let mortgages and offers an attractive alternative to fixed rate deals," said Martin Richardson, Leeds Building Society's General Manager – Business Development.
"We've reviewed and refreshed our product range, which includes fixed, variable and discount rate deals with a combination of fee and benefit packages.
"We expect the fees assisted products to appeal in particular to homeowners who want to remortgage and are seeking to minimise the costs of switching to a more competitive deal while rates are low."
Notes to Editors
Fees Assisted 2 Year Discount Buy to Let mortgage
- Fees Assisted Two Year Discount Buy to Let mortgage at 2.79% available up to 70% LTV
- Then followed by a further 1.00% discount (4.99% rate) for three years, with no Early Redemption Charges.
- £199 Booking Fee
- Free standard valuation up to £335
- Fees assisted in-house legal services for standard re-mortgages
- 10% penalty free capital repayments are allowed each year
- Unlimited capital repayments can be made after year two
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 Developer contact.
From Monday, 15th September, the Society increased procuration fees on Buy to Let and holiday let mortgages through intermediaries from up to 0.37% to up to 0.5%, to bring these in line with similar fees on the market. The Society also has increased underwriting capacity to meet rising demand from intermediaries.
Leeds Building Society has won three awards for innovation so far this year, having been named 'Innovator of the Year' at the Moneywise Magazine Mortgage Awards 2014 for its Welcome Mortgage. This allows borrowers to pay 0% interest for the first few months of their term so they can free up cash to help them settle into their new home.
The Society also scooped the 'Mortgage Innovation Award' and was named 'Most Innovative Personal Finance Provider' at the Moneynet Personal Finance Awards 2014.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 30 June 2014). The Society has operated from the centre of Leeds since 1886.