The buy-to-let and commercial mortgage specialist will offer the product exclusively at a fixed rate of 4.99% up to 80% loan-to-value. The initial rate is fixed until 28 February 2015.
The product has a flat completion fee of £1,800 and a booking fee of £199. The deal includes a free valuation worth up to £335 for purchases and remortgages and free legals for remortgages only. Brokers will receive procuration fees of 0.25%.
Andy Young (pictured), chief executive at TBMC, commented:, “This is an excellent new buy-to-let exclusive available up to 80% LTV and is a great choice for landlord clients who want a higher-geared investment.
“It is also an excellent remortgage product, especially for those looking to release equity from existing properties.
“With high rental yields and strong tenant demand, it could be a good time for landlords to consider expanding their portfolios with further buy-to-let properties.”
Parveen Kumari, intermediary account manager at Leeds Building Society, added: “The buy-to-let mortgage market has performed well so far in 2012 and Leeds has competed successfully with its buy-to-let proposition.
“We have been targeting specific segments of the market by distributing certain products through specialist buy-to-let broker, TBMC.
“Our previous 80% LTV exclusive with TBMC has sold well and we are expecting this re-designed version, also with a free valuation, to be popular too.”
