Leeds BS adds five-year deals to HMO mortgage range

The products, which will launch on 8 February, come with free standard valuation and £500 cashback.

Leeds BS launched the HMO range last month.

The five-year HMO deals include rates at 2.49% and 2.69% for small properties, available up to 60% and 70% loan to value (LTV) respectively, with a £999 fee.

For large properties, rates stand at 3.54% and 3.84%, available up to 60% and 70% LTV respectively, with a £1,999 fee.

Matt Bartle, director of products at Leeds Building Society (pictured), said: “Following broker feedback, we have developed these new five year options for small and large HMOs, which we believe will meet the needs of landlords looking to diversify their portfolios and move into this sector.

“Additionally, insight from brokers revealed professional landlords often prefer to use their own legal advisers during the buying or remortgaging process.”

In January, Leeds Building Society launched 10-year retirement interest-only mortgages, as part of changes to increase choice for older borrowers.