Cashback deals added to Leeds buy-to-let range
Leeds Building Society has added new £500 cashback deals to its buy-to-let mortgage range to help borrowers who want to choose their own conveyancer.
The new deals are:
– 2.45% two year fixed rate buy-to-let mortgage up to 60% LTV (loan to value)
– 2.80% two year fixed rate buy-to-let mortgage up to 70% LTV
– 2.74% five year fixed rate buy-to-let mortgage up to 60% LTV
– 3.25% five year fixed rate buy-to-let mortgage up to 70% LTV
In addition, all come with a free standard valuation and no completion fee.
Jaedon Green, director of product and distribution, Leeds Building Society, said:
“We’ve listened to brokers and have introduced these latest cashback products in response to the ongoing pressures within the remortgage conveyancing market.
“By offering £500 cashback, we’re giving brokers and their customers the option to choose their own conveyancer, which could speed up the process.
“The move is another example of the society’s commitment to supporting landlords and the buy-to-let market.
“We’ve recently announced our readiness for the new PRA (Prudential Regulation Authority) rules on portfolio landlords, such as increasing our maximum portfolio size from eight to 10 mortgaged rental properties.
“These improvements follow changes we introduced at the start of the year, such as increasing Interest Coverage Ratio (ICR) and removing the minimum income requirement.”