Leeds buy to let mortgages & new Help to Buy rates

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Leeds Building Society has now revealed it will be offering a new 2 year fixed rate deal for buy to lets up to 70% loan to value (LTV), now available exclusively to members of The Mortgage Alliance Mortgage Club, as part of its ongoing support to landlords currently having to adapt to upcoming tax changes in the sector.

The mortgage product is available for both purchase and remortgage at a rate of 2.49% and offers free valuations for properties worth up to £2 million. This comes with no booking fee, however, a £699 arrangement fee is applicable, and can be added to the borrowing all the while it sits within the LTV limit. This also comes with fees assisted legal services for standard remortgages.

Looking to offer more exclusive products at reasonable fees and good rates with practical rental yield calculations, Leeds Building Society has been doing all it can to help the changing buy to let sector. However, the lender has also now refreshed its Help to Buy equity mortgages.

Now adding two new 2 year fixed rates, ‘Help to Buy’ equity products are now available at a 1.69% rate with a £999 fee or 2.1% with a £199 fee. Each is available up to 75% LTV through intermediaries only, and also includes free standard valuation.

In line with this, Yorkshire Building Society also recently announced it has cut rates across its fee-free mortgages up to 90% and 95% LTV for first time buyers.

Applying reductions of up to 0.15%, the Building Society is now offering a 2 year fixed rate at 90% LTV with a rate of 2.59%, which comes with no product fee, free standard valuation for borrowers with a 10% deposit and £250 cashback on completing for homebuyers.

A 2 year fixed rate is also available for borrowers with a 5% deposit at a rate of 3.84%, or 4.49% for a 5 year fixed rate with no product fee, free standard valuation and £250 cashback on completion.