Leeds cuts holiday let mortgage rates
From Monday 6 July the society is cutting the following rates:
• 2-year fixed rate mortgage at 2.64% (reduced from 2.94%) up to 60% LTV (loan to value), with a £999 fee;
• 2-year fixed rate mortgage at 3.14% (reduced from 3.24%) up to 70% LTV, with a £999 fee;
• 2-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 2-year discount holiday let mortgage to 2.59%, from 2.79%, which is available up to 70% LTV, with a £999 fee.
Martin Richardson, Leeds Building Society’s general manager, business development, said: “We have particular expertise in holiday let mortgages, which are a growing market as more people look to enjoy a staycation in the UK.
“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.”