Leeds Building Society will cut rates for HMO mortgages

Michael Lloyd

August 8, 2019

Leeds Building Society is set reduce rates on its 2-year fixed rate large HMO deals by up to 0.45%.

There will be a 2-year large HMO mortgage at 3.39% available up to 75% LTV and a 3.34% 2-year large HMO mortgage available up to 70% LTV. Both products come with £500 cashback upon completion, a free valuation and a £1,999 product fee.

Matt Bartle, director of products at Leeds Building Society, said: “We used our extensive experience and expertise within the buy-to-let market, which includes specialist underwriting, as well as portfolio landlord and holiday let ranges, to introduce a unique HMO proposition in January.

“Our rate reductions across our large HMO range is a further example of the support we offer to borrowers who are currently under-served by the wider market.”

The society launched a houses in multiple occupation (HMO) proposition in January.

Leeds Building Society defines an HMO as an entire property, house or flat which is let to three or more tenants who form two or more households and who share a kitchen, bathroom or toilet. A large HMO can have more than six occupants.

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