Buy To Let Date:
Leek United Building Society has reduced the rate on its two-year discounted mortgage by 0.50%. This move has given the mortgage a leg up in the Moneyfacts charts, ensuring that it sits just behind the market-leader.
The mortgage now has a discounted variable rate of 3.24% for two years, after which it will revert to a variable rate of 5.19%.
This mortgage is available to first-time landlords, professional landlords and property developers at a loan-to-value of 75%. A minimal booking fee of £199 is needed to secure the rate.
Underpayments and payment holidays are not possible with this mortgage, but overpayments are welcomed for up to 10% of the outstanding balance per year.
The rate reduction and the small booking fee that accompanies this mortgage have bolstered its position within the Moneyfacts charts. The mortgage now sits in the silver medal position and it is likely to prove very tempting to landlords on the hunt for a buy-to-let mortgage.
Four Moneyfacts Stars have been awarded.
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 Any products featured may be withdrawn by their provider or changed at any time.
Moneyfacts.co.uk will, like most other websites, place cookies onto your computer’s
hard drive. This includes tracking cookies.