Leeds BS refreshes holiday let range

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  • 17/12/2019
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Leeds BS refreshes holiday let range
Leeds Building Society has cut the rate of its two-year holiday mortgage by 0.15 per cent as part of an update to its range.

 

The 2.49 per cent two-year fixed rate comes with a free standard valuation up to £999 and fees assisted legal services for standard remortgages. It is available up to 60 per cent loan to value (LTV). 

The mortgage offers tapered early repayment charges starting at three per cent and dropping to two per cent in the second year. 

The society claims this product has the lowest fee-free rate in the market. 

Leeds also launched a 2.99 per cent five-year fixed rate holiday let mortgage up to 60 per cent LTV with a £999 product fee. The product comes with tapered early repayment charges which reduce from five to two per cent over a five-year period. 

Matt Bartle (pictured), director of products at Leeds Building Society, said: “We’ve experienced growth in demand for our holiday let range, with a steady increase in applications over the past three years. The number of borrowers in 2019 outstripped 2017 by 12 per cent. 

“Our new five-year product adds more choice to our holiday let range for borrowers, offering a new option for this term and LTV.

“Now may be a good time for borrowers considering holiday rentals to move into the market or remortgage and ensure their property is ready for the busy spring and summer periods next year,” Bartle said. 

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