Buy To Let Date:
Leeds Building Society has reduced selected buy-to-let mortgages, with its five-year deal receiving a cut of 0.20% and earning an 'excellent' rating in the process.
This mortgage now has a rate of 3.34% fixed until 31.8.20. It is available at a loan-to-value (LTV) of 60% and has a fee of £999.
This deal is available to second-time buyers and remortgagors with a 40% deposit. All landlords can benefit from an incentive package of free valuation fees (max £560), while those looking to remortgage can also profit from help towards costs.
Up to 10% of the outstanding balance can be made each year in overpayments, giving borrowers the welcome opportunity to pay down their mortgage balance.
The rate cut to this deal has boosted its competitiveness in the market, something that will appeal to landlords who have the necessary deposit. The addition of a generous incentive package sweetens the deal yet further, particularly for remortgagors, while the option to make overpayments adds some welcome flexibility.
Moneyfacts rating: Excellent
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