Leeds doubles BTL cashback incentives to £1,000

Leeds Building Society has doubled the cashback incentives available on its selected two- and five-year buy-to-let products from £500 to £1,000.

Highlights of the updated cashback range include a 2.69% two-year rate a 2.74% five-year fixed rate, both available at 60% loan-to-value (LTV) with no fee and a free standard valuation.

The five-year Easy Start buy-to-let mortgage offered by Leeds, available at an interest rate of 0% for the first three months, has also been reduced by 0.21% at 70% LTV to 3.03%.

Matt Bartle, Leeds Building Society’s director of products, commented: “We’ve increased the cashback incentives available on some of our buy-to-let products while maintaining our product rates.

“Of course, landlords can choose how to spend the £1,000 cashback available. Cash freed up at the start of the mortgage could go towards redecorating costs and fees associated with finding tenants.

“Increasing cashback available on our buy-to-let range is a further example of how we’ve used our expertise and experience in the market to understand and respond to the needs of customers.”

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