Leeds launches buy-to-let cashback range

Ryan Bembridge

December 22, 2015

Leeds Building Society has launched a range of buy-to-let mortgages with £250 cashback.

Highlights include a 2-year discount at 2.10%, a 2-year fix at 2.60% and a 5-year fix at 3.39%, all with a £199 fee.

Deals are available to 60% LTV and come with a free valuation for properties worth up to £500,000 and fees assisted legal services.

Martin Richardson, Leeds Building Society’s director of business development, said: “Adding the cashback benefit for existing buy-to-let borrowers complements some of the other changes we have made to criteria on this type of lending.

“We keep our lending criteria under active review and listen carefully to feedback from borrowers and intermediaries to find ways we can improve our service and develop products which better suit customer need.”

Leeds changed its rules so landlords can borrow on a maximum of four properties with a maximum portfolio of eight this year.

Investors with Leeds are required to have a minimum income of £25,000, although joint owners with less than £25,000 can apply provided their joint incomes are worth at least £40,000.

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