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Leeds BS introduces 10-year fixes for buy to let

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  • 29/08/2019
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Leeds BS introduces 10-year fixes for buy to let
Leeds Building Society has its first ever range of 10-year fixed rate buy to let mortgages.

 

The two new products which launch on 30 August extend the lender’s landlord offering into the decade-long market.

They are available at 2.49 per cent at up to 60 per cent loan to value (LTV) and at 3.29 per cent at up to 70 per cent LTV.

Both products can be used for purchase or remortgage, have a £999 product fee and come with a free standard valuation and fees assisted legal services.

They allow 10 per cent penalty free capital over-repayments each year and there are tapered early repayment charges starting at six per cent and ending at two per cent until 30 November 2029.

Leeds Building Society director of products Matt Bartle said: “Our new 10-year buy to let products provide additional choice for landlords, and follow our recent rate reductions and the introduction of new cashback incentives in our range.

“Longer term fixes provide landlords with the opportunity to budget for their mortgage costs over a decade, as well as saving any fees associated with remortgaging during the period.

“In the current rate environment, fixing for a longer term offers landlords some security at a time of economic uncertainty,” he added.

 

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