5-yr BTL mortgage gets a rate cut | Product News - Moneyfacts

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5-yr BTL mortgage gets a rate cut

5-yr BTL mortgage gets a rate cut

Category: Buy To Let
Date: 31/07/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Leeds Building Society has reduced the cost of its five-year fixed buy-to-let mortgages by 0.10%, earning one of its deals an 'excellent' rating for its competitive rate and terms.

The basics…

This five-year mortgage now has a competitive rate of 3.24% fixed until 31.10.20. It is available at 60% loan-to-value (LTV) and has a fee of £999.

The finer details…

This deal is available to second-time buyers and remortgagors with a 40% deposit. All borrowers can take advantage of the offer of free valuation (max £560), while those looking to remortgage their rental property can also profit from help towards costs.

Overpayments of up to 10% of the outstanding balance can be made each year, giving landlords a degree of repayment flexibility.

Why we like it…

Landlords on the hunt for a competitive long-term fixed mortgage are likely to be pleased by this latest reduction. Not only does this deal boast a competitive rate, but the accompanying incentive package is also appealing, particularly for remortgagors, making this a great all-round product.

Moneyfacts rating: Excellent

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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