Buy To Let Date:
Leeds Building Society has reduced the price of its stepped discounted variable rate buy-to-let mortgage by 0.15%, earning it an 'excellent' rating as a result.
This deal now has a variable rate of 2.10% (3.89% disc) for two years before rising to a rate of 4.99% (1.00% disc) for three years. It is available at a loan-to-value (LTV) of 60% and has a low fee of £199.
This mortgage is only available to second-time buyers and those looking to remortgage their rental property. All borrowers can benefit from an incentive package of free valuation (max £560) as well as take advantage of the option to make overpayments of up to 10% of their outstanding mortgage balance.
Landlords looking for a competitive deal are likely to be attracted by the rate reduction to this deal, which is now an eye-catching option in the market. The incentive package and the opportunity to make overpayments further sweeten the deal, making this an attractive all-round product.
Moneyfacts rating: Excellent
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