BTL mortgage from Leek United BS moves up | Product News - Moneyfacts

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BTL mortgage from Leek United BS moves up

BTL mortgage from Leek United BS moves up

Category: Buy To Let
Date: 03/09/2014

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 It is now over 6 months old so the content may be out of date.


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 basics…

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%.

The finer details…

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.

Why we like it…

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 Any products featured may be withdrawn by their provider or changed at any time.

 

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 Any products featured may be withdrawn by their provider or changed at any time.

 
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