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Leeds refreshes two-year buy-to-let tracker range

Leeds Building Society has refreshed its range of two-year buy-to-let tracker products.

The lender’s new tracker rates now start at 1.29% up to 60% loan-to-value (LTV) and 1.46% up to 70% LTV.

There is also a two-year buy-to-let tracker available at 1.46% to 60% LTV and a 70% LTV available at 1.82%.

Both products command an arrangement fee of £999, but come with a free standard valuation and fees assisted legal services for standard remortgages.

Jaedon Green, Leeds Building Society’s director of product and distribution, commented: “Despite the 2 August Bank Base Rate increase there’s still a place for tracker mortgages for landlords looking to make the most of their portfolio.

“The Bank of England has indicated that the era of low interest rates could last another 20 years with market expectations that the next BBR rate is at least a year away.

“In this environment, our two-year buy-to-let tracker range compares favourably with the equivalent fixed rate products.

“While fixed rates offer certainty of payment, there is a tendency to overlook trackers, which, with the current expectations on future BBR increases could offer better value over the two year period.

“The range also provides the opportunity for landlords to reduce the impact of tax changes and actively manage their portfolios to protect yield.”

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