Leeds BS launches two new 5-year fixes

Jessica Nangle

February 28, 2017

Leeds Building Society has launched two new 5-year fixed rate mortgages for remortgages only.

The products are priced at 2.75% with a £1,999 fee and a 2.90% rate with a £999 fee, both available with combinations up to 60% and 70% LTV and come with free valuation and fees assisted legal services for standard mortgages.

Jaedon Green, director of product and distribution at Leeds, said: “These latest deals offer more choice for borrowers at the higher LTV end of this type of mortgage, where we tend to see stronger demand for remortgage deals.”

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These new rates come after Leeds introduced new criteria on the 1 January following changes to underwriting standards for buy-to-let by the PRA.

Green added: “The market continues to benefit from buoyant demand for buy-to-let remortgage as landlords take action to minimise costs and manage profitability.

“This market has become even more active since the changes to stamp duty came into effect last March and ahead of the impending changes to tax relief.

“We amended and simplified our buy-to-let criteria from the start of this year and our new approach has been well-received by brokers.”

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