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Leeds BS refreshes 70% buy-to-let range

The Leeds Building Society has launched a two-year fee-free fixed rate buy-to-let mortgage deal at 2.32% up to 70% loan-to-value (LTV), available to portfolio and stand alone landlords, which comes with a free valuation.

The new mortgage deal has been introduced as part of the building society’s wider refresh of its 70% LTV buy-to-let range.

Leeds has also cut rates on other selected fixed-rate deals at 70% LTV, including a 1.61% two-year fixed rate, with free standard valuation, fees assisted legal services for remortgages and a £2,499 fee, and a 2.99% five-year fixed rate, with £500 cashback, free valuation and no product fee.

Jaedon Green, Leeds Building Society’s director of product and distribution, commented: “We have reduced our rates on some of our two and five-year fixed rate products, making them some of the leading rates in the buy-to-let market currently.

“Buy-to-let remortgage activity continues to be strong at 70% LTV. Landlords are reacting to tax changes impacting the market and actively managing their portfolios to protect yield, at a time when the likelihood of a rise in bank base rate is increasing.

“This is an important sector in the housing market as a whole and we continue to work closely with our intermediary partners to further enhance the service we provide to them and their clients.”

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