Leeds Building Society has refreshed its buy-to-let product range, launching two products, reducing rates on selected mortgages by up to 0.16% and adding cashback options for selected mortgages.
The new products include are a 1.49% 2-year buy-to-let mortgage available up to 60% loan-to-value (LTV) and a 1.69% 2-year buy-to-let mortgage available up to 70% LTV. Both come with a £1,999 product fee.
Matt Bartle, Leeds Building Society’s director of products, said: “We’ve refreshed and diversified our Buy to Let mortgage range by reducing rates on selected fixed rate products and introducing new cashback incentives.
“Cash freed up at the start of a mortgage is often important for landlords. Of course, landlords can choose how to spend the £1,000 cashback but it could go towards redecorating costs and fees associated with finding tenants.
“The rate reductions, £1,000 cashback products and the new 2-year fixed rates have increased the choice available within our buy-to-let range.
“Our range refresh is another example of how we use experience within the market to understand and respond to the needs of customers no matter what their individual circumstances.”
Its 1.69% 2-year buy-to-let fixed rate mortgage up to 60% LTV with a £999 product fee is a best buy in the market.
In addition, the range has also been expanded to include new 5-year fixed rate buy-to-let cashback products.
There are £1,000 cashback incentive products, which include a free standard valuation and fees assisted legal services for remortgages. These are available for a 5-year 2.94% buy-to-let mortgage up to 60% LTV and a 3.11% 5-year buy-to-let mortgage at 70% LTV. Both have no fee.