Leeds Building Society has added to its fixed-rate buy-to-let mortgage portfolio by introducing a new deal at 5.99 per cent for three years.
The product is available up to 80 per cent loan-to-value (LTV) and was described by the provider as a “market-leading” home loan plan.
In addition, the building society also announced it is reducing the fees on its two-year fixed-rate offering by £300.
Customers considering either of the options will benefit from a ten per cent capital repayments allowance each year without fear of being penalised, while both plans have no higher lending charge.
Kim Rebecchi, sales and marketing director at Leeds, noted: “These flat fee products will attract professional landlords, who may wish to move onto a highly competitive rate and fix their monthly commitments.”
Ms Rebecchi explained now could be a good time for proprietors to lock themselves into a low fixed-rate, while the reduced fees may act as an added bonus.
The news represents the latest new mortgage offering from Leeds, which recently unveiled a ten-year fixed rate home loan available up to 75 per cent LTV at 4.58 per cent.
