Products with higher fixed rates are fee-free
Leeds Building Society has reduced rates by up to 15 basis points across its buy-to-let mortgage range.
The mutual has lowered the rates of its mortgage products for landlords, including portfolio products.
Borrowers are also given options, with higher fixed rate deals having no product fees. For example, the lender’s 5.52% two-year fix comes with a £1,999 fee while the 6.14% two-year fix is fee-free. Five-year fixed rate options – one with a £1,999 fee and the other fee-free – are priced 5.09% and 5.39%, respectively.
“As an important tenure within a healthy housing market, we continue to respond to the changing needs of landlords in the private rented sector,” said Sean Hanson (pictured), senior mortgage manager at Leeds Building Society.
“The further rate reductions we have made will serve the market as a whole, helping to reduce costs for landlords, which we hope will improve the outlook for private renters too.
“The changes we’ve made as part of our ongoing review of rates aims to support our intermediary partners who are advising clients in this sector.”
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