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

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5-yr discounted BTL mortgage gets a rate cut

5-yr discounted BTL mortgage gets a rate cut

Category: Buy To Let
Date: 07/10/2015

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 It is now over 6 months old so the content may be out of date.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 price of its stepped discounted variable rate buy-to-let mortgage by 0.15%, earning it an 'excellent' rating as a result.

The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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