Leeds BS expands BTL mortgage range

Added on June 14th, 2018 in Property News

Leeds Building Society has added new fixed rate products to its range of mortgage deals.

The new mortgages include a 1.44% two-year fixed rate up to 60% loan-to-value (LTV) and a 1.69% rate up to 70% LTV, both with free standard valuation, fees assisted legal services and a £2,499 fee.

In addition, the two-year fixed rate period is followed by a 1% discount until 31st August 2023.

Jaedon Green, Leeds Building Society’s director of product and distribution, commented: “The underlying economics of buy-to-let are changing as the government’s tax changes start to bite.

“Fixed rate products continue to look attractive, offering certainty over funding costs, but the gradual introduction of the tax changes and tapering off of tax relief, potentially creates opportunities.

“High fee products enable landlords to front load funding costs and maximise use of existing tax relief, while minimising the interest payable in future years, when tax relief is less favourable.”

 

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