L&G launches BTL exclusive with Leeds
The mortgage product offers a 2-year fixed rate buy-to-let up to and including 31 December 2014 at just 3.99% for loans up to 70% loan to value.
The booking fee for this product is £199 with a completion fee of £800. The product is available on loans up to £500,000, allowing 10% capital repayments each year.
Martyn Smith, head of mortgage products for Legal & General Network, said: “At sub 4% this is a highly competitive rate, especially when you consider the low flat fee in today’s buy to let market.
“Two year fixed rates continue to be the product of choice by many buy-to-let borrowers so we expect this Legal & General exclusive from Leeds Building Society to be very popular.”
Phil Coombes, Leeds’ head of intermediary sales, added: “We believe it’s a very good time to lock into a low fixed rate buy-to-let deal. This product will attract landlords who may wish to move onto a highly competitive rate with a low flat fee and fix their monthly commitments.”