Leeds Building Society has increased the cashback incentives available on selected 2 and 5-year buy-to-let cashback incentives from £500 to £1,000.
Highlights of the updated cashback range, which include a free standard valuation, include two buy-to-let mortgages at 60% loan-to-value, both with no fee. There’s a 2-year product at 2.69% and a 5-year at 2.74%.
Matt Bartle, Leeds Building Society’s director of products, said: “We’ve increased the cashback incentives available on some of our buy-to-let products while maintaining our product rates.
“Of course, landlords can choose how to spend the £1,000 cashback available. Cash freed up at the start of the mortgage could go towards redecorating costs and fees associated with finding tenants.
“Increasing cashback available on our buy-to-let range is a further example of how we’ve used our expertise and experience in the market to understand and respond to the needs of customers.”
The launch of the products follows the introduction of the ‘Easy Start’buy-to-let mortgage, with an interest rate of 0% for the first three months.
The society has reduced the rate of its 5-year Easy Start mortgage, which is available up to 70% LTV, by 0.21% to 3.03%, with a 0% interest rate for the first three months.