Buy To Let Date:
Leeds Building Society has added a new stepped rate buy-to-let mortgage to its range, winning an 'excellent' rating for its eye-catching rate and terms.
This mortgage has a fixed rate of 2.69% until 31.12.18, the lowest rate currently available for its term, which 'steps up' to a variable rate of 4.99% until 31.12.20 (1.00% disc). It is available at a loan-to-value (LTV) of 60% and has a fee of £999.
This deal is open to second-time buyers and landlords looking to remortgage their rental property. There are no incentives accompanying this mortgage, but borrowers do have the opportunity to make overpayments of up to 10% of the outstanding balance, which grants them a degree of repayment flexibility.
Remember, in order to secure a mortgage, credit card or personal loan you need to have a good credit rating. To find out if yours has a clean bill of health, contact a credit check provider, such as Experian CreditExpert to investigate your credit report.
This deal offers landlords a highly competitive rate, which is sure to make it stand out among its competitors and attract borrowers. The fact that it also has the option to make overpayments further enhances its appeal as it gives landlords the ability to reduce their outstanding balance.
Moneyfacts rating: Excellent
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