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Posted by Let Alliance on August 31, 2012
Leeds Building Society has cut its three-year fixed rate buy-to-let mortgage by 0.25% down to 4.14%.
The lender has launched the product for loans up to 65%. A £199 booking fee and a £800 completion fee apply to the deal, with up to 10% capital repayment allowed each year without penalty.
Phil Coombes, head of intermediary sales at Leeds Building Society, said that the mutual was targeting property investors who are looking to fix their mortgage deal.
“We believe that now is a very good time to lock into a low fixed rate, and have reduced the rate by 0.25% on the three-year buy to let deal to a new rate of 4.14% available up to 65% LTV.
“This flat fee product will attract professional landlords, who may wish to fix their monthly commitments.”
The mutual recently announced that its lending during the first six months of the year had risen by 20% compared to the same period in 2011, jumping from £642m to £769m.