New Fixed Rate Buy To Let Mortgage From Leeds
Published: 29 July 2011 By MoneyHighStreet Staff Leave a Comment
Leeds Building Society has a new 2 year fixed rate buy to let mortgage with free standard valuation and no completion fee, adding more finance options for landlords.
The new buy to let mortgage is available at 5.14% for up to 60% LTV, 5.44% for an LTV between 61 and 65% and 5.64% for an LTV between 66 and 70%.
It offers a free valuation up to £335 and for standard remortgages offers a free in-house legal service. The booking fee is just £199 and there’s no completion fee.
Kim Rebecchi, Sales and Marketing Director said, “We have looked at the market and delivered a highly competitive fees assisted fixed rate buy to let.
“When you look at what is currently available, many of the low rate products have percentage based fees, which can be up to 3.50% of the loan and this can make the headline rate much less attractive.
“We have delivered certainty and peace of mind, not only in terms of a fixed monthly payment but also by providing assistance to those landlords who require help with up front costs.”
The product doesn’t have a higher lending charge and 10% of capital repayments can be made annually without any penalty.
MoneyHighStreet commnts: “As optimisim in the buy to let market grows, it’s good to see further finance options available. With minimal upfront this mortgage from Leeds will no doubt be attractive to first time landlords or even the so-called reluctant or accidental landlord.
With a fixed rate, those looking to manage against a set budget will be interested, including some professional landlords.
As with all personal finance products, look around to get your best buy to let deal that meets your specific needs. Be careful not to overstretch yourself as you assess the properties and finance available to you – better to opt for something cheaper if in doubt and help ensure you don’t end up struggling with debt.”