Five-year fixed rate BTL mortgage gets four stars | Product News - Moneyfacts

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Five-year fixed rate BTL mortgage gets four stars

Five-year fixed rate BTL mortgage gets four stars

Category: Buy To Let
Date: 19/09/2014

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 It is now over 6 months old so the content may be out of date.

Leeds Building Society's latest review of its buy-to-let mortgage offerings has seen selected rates reduced, as well as the launch of some new five-year deals, one of which has merited a four-star review.

The basics…

This five-year fixed rate deal offers a rate of 3.99% until 30.11.19 at a loan-to-value of 70%. Booking and completion fees totalling £999 are payable.

The finer details…

This mortgage is only available to second-time buyers and landlords looking to remortgage. All applicants can benefit from an incentive package of free valuation (up to £335), while remortgagors can also profit from free legal fees.

Once the five-year fixed term expires, the rate will revert to an Existing Borrowers Rate of 5.99% for the rest of the mortgage term.

Borrowers get some flexibility with their repayments with the option to make overpayments of up to 10% of the outstanding balance per year.

Why we like it…

This rate is the lowest on offer for direct applications and this mortgage also benefits from a reasonably low fee, something that is bound to attract landlords. The incentive package on offer is also very generous, which will appeal to those who are looking to keep their set-up costs down.

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 Any products featured may be withdrawn by their provider or changed at any time.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 Any products featured may be withdrawn by their provider or changed at any time.

 
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