Lender Leeds Building Society has launched two new deals to its buy-to-let mortgage range in an effort to entice more landlords looking to remortgage properties through their doors.
The new five-year fixed rate mortgages for remortgage only offer rates of 2.75% with a £1,999 fee and 2.9% with a £999 fee.
Both are available up to 70% loan-to-value (LTV) and come with a free valuation, as well as fees-assisted legal services for standard remortgages.
These latest deals offer more choice for borrowers at the higher LTV end of this type of mortgage, where Leeds BS tend to see stronger demand for remortgage deals, according to Jaedon Green, Leeds’ director of product and distribution.
He said: “The market continues to benefit from buoyant demand for buy-to-let remortgage as landlords take action to minimise costs and manage profitability. This market has become even more active since the changes to Stamp Duty came into effect last March and ahead of the impending changes to tax relief.
“We amended and simplified our buy-to-let criteria from the start of this year and our new approach has been well-received by brokers.”