The initial rate is 4.99% fixed until 28/02/2015 with a flat completion fee. There is a free valuation up to £335 for purchases and remortgages, and free legals for remortgages only.
Andy Young, Chief Executive at TBMC says:
“This is an excellent new buy-to-let exclusive available up to 80% LTV and is a great choice for landlord clients who want a higher-geared investment. It is also an excellent remortgage product, especially for those looking to release equity from existing properties. With high rental yields and strong tenant demand, it could be a good time for landlords to consider expanding their portfolios with further buy-to-let properties.”
Parveen Kumari, Intermediary Account Manager at Leeds Building Society, added:
“The buy-to-let mortgage market has performed well so far in 2012 and Leeds has competed successfully with its buy-to-let proposition. We have been targeting specific segments of the market by distributing certain products through specialist buy-to-let broker, TBMC. Our previous 80% LTV exclusive with TBMC has sold well and we are expecting this re-designed version, also with a free valuation, to be popular too.”
