11
Nov
Leeds Building Society mortgage selected as best buy
A new five-year fixed-rate buy-to-let mortgage from Leeds Building
Society has been selected by Moneyfacts as one of its best buy
products.
The home loan, which offers rates of 5.99 per cent up to a 60 per
cent loan-to-value (LTV) on the property, was awarded four stars by
the consumer website.
Leeds Building Society also launched a similar buy-to-let mortgage
which offers an LTV of up to 65 per cent with rates at 6.29 per
cent.
The company said that it designed the product to suit the needs of
landlords looking for competitive, fixed-rate finance.
Kim Rebecchi, director of sales and marketing, said: "These new
buy-to-let options are competitive and offer the flexibility of
being able to pay off ten per cent of the capital without penalty.
They also allow landlords to lock-in value and provide certainty of
payments."
Figures released by the Council of Mortgage Lenders in October
showed that, in August, the number of new mortgage approvals was up
by 29 per cent compared with the same month in 2008.
