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Rates cut and deals added by Leeds BS and Nottingham BS – round-up

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  • 24/10/2019
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Rates cut and deals added by Leeds BS and Nottingham BS – round-up
Two mutual lenders have revamped their mortgage ranges with rate cuts and product launches.

 

Leeds Building Society has cut rates on selected two-year fixed rate buy-to-let deals.

As a result, its two-year fixed product available up to 60 per cent loan-to-value (LTV) will now come with an interest rate of 1.44 per cent, while the deal available at up to 70 per cent LTV will have a rate of 1.59 per cent.

These rates have been trimmed by 0.05 per cent and 0.06 per cent respectively, and the new rates go live on 25 October.

Both have a £1,999 product fee and come with free standard valuation and fees assisted legal services.

Matt Bartle (pictured), director of products at the mutual, said it wanted to meet the “evolving requirements” of landlords.

He added: “We know that many landlords are actively managing their portfolios, with their choice of mortgage deals playing an important role in maximising yield.

“These rate reductions follow the launch of our two year 80 per cent LTV product, which continues to offer the lowest rate on the market.”

 

Nottingham BS cuts five-year rates

Meanwhile, Nottingham Building Society has introduced a new five-year deal, available up to 95 per cent LTV, with a rate of 2.75 per cent. 

It comes with no upfront or arrangement fees, a free basic valuation and free legal fees for remortgages.

Alongside the new deal, the mutual has cut the rates on its other five-year fixed rate deals by up to 0.25 per cent.

As a result, rates now start at 1.70 per cent for a mortgage at 75 per cent LTV, with an £800 arrangement fee, or 1.85 per cent for the fee-free version.

Nikki Warren-Dean, head of intermediary sales for The Nottingham for Intermediaries, said: “We know many people look to lock into mortgage or remortgage deals for a longer period than the traditional two or three years, so have launched a new range – including a 95 per cent product with a rate of 2.75 per cent.”

 

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