Leeds Building Society launches two new buy to let products
Two new fixed rate mortgages have been launched by Leeds Building Society for the buy to let purchase market in the UK.
A two year fixed rate mortgage at 2.4% is available up to 70% LTV and each mortgage comes with a free valuation for properties worth up to £500,000 and is available for purchase only.
‘Perhaps unsurprisingly, there was a peak of activity in the Buy to Let market earlier this year before the Stamp Duty increases came into force,’ said Jaedon Green, Leeds Building Society’s director of product and distribution.
‘Despite tax changes and forthcoming regulatory changes, the UK continues to benefit from a strong demand for rental properties. Buy to let provides a natural complement to home ownership,’ he pointed out.
‘A stable housing market requires a healthy equilibrium, with rental properties enabling greater flexibility and employment mobility,’ he added.
Leeds Building Society said it continues to support this important market and will lend on one to four properties, where the borrower’s total portfolio does not exceed eight units.