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

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5-yr fixed BTL mortgage gets a rate reduction

5-yr fixed BTL mortgage gets a rate reduction

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

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 It is now over 6 months old so the content may be out of date.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 selected buy-to-let mortgages, with its five-year deal receiving a cut of 0.20% and earning an 'excellent' rating in the process.

The basics…

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.

The finer details…

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.

Why we like it…

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

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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