Mortgage News
Leeds lifts buy-to-let LTV cap to 80%
Leeds Building Society has become the latest intermediary-focused mortgage provider to boost its Loan-To-Value (LTV) lending cap, this time on buy-to-let loans, from 70 to 80%.
This follows its direct-only launch to 95% LTV on five-year residential loans before Christmas after a product launch driven 2011.
The lender’s two-year fix is now available at 80% LTV at a rate of 5.69%, which comes with a £199 booking fee and an £800 completion fee.
The fees-assisted two-year fix is available at 80% LTV at a rate of 5.99%, offered with a £199 booking fee and no completion fee. The rest of its buy-to-let range will continue with a maximum LTV of 70%.
Other intermediary-only lender Aldermore increased its maximum LTV for buy-to-let mortgages from 75% to 80% this week and Accord raised its 85% cap to launch its range of two and five year fixed rates at 90% LTV tomorrow.
Accord previously lent up to a maximum LTV of 85% and the buyer and remortgage range offers two-year fixes starting at 4.89% with a £995 fee and a five year from 5.19% with the same fee.
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