Buy To Let Date:
Leeds Building Society has added to its buy-to-let mortgage range with a new five-year deal, which has earned an 'excellent' review for its attractive terms.
This mortgage is a stepped product: it has a fixed rate of 3.34% until 30.4.18, after which a discounted variable rate of 4.99% (1.00% disc) will apply until 30.4.20. It is available at a loan-to-value (LTV) of 70% and has a low fee of just £199.
This deal is only open to second-time buyers and remortgagors with a 30% deposit. All borrowers can profit from an incentive package of free valuation (max £560), while those looking to remortgage their rental property can also benefit from additional help towards costs.
Overpayments of up to 10% of the outstanding balance are permitted, giving borrowers some welcome flexibility over their repayments.
This new deal is an appealing one thanks to its competitive rate, low fee and generous help with set-up costs. Remortgagors in particular will benefit from the enticing incentive package, which will be ideal for those who are looking to keep their initial costs down.
Moneyfacts rating: Excellent
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