Leeds hikes maximum LTV to 80%

Leeds Building Society has increased its maximum LTV on some of its buy-to-let products from 70% to 80%.

The lender’s two-year fixed rate is now available at 80% LTV at 5.69%. It comes with a £199 booking fee and an £800 completion fee.

Meanwhile, its fees-assisted two-year fix is available at 80% LTV at a rate of 5.99%.

The product has a £199 booking fee and no completion fee.

The rest of its buy-to-let range continues to have a maximum LTV of 70%.

A spokesman for Leeds says it has made the change to assist borrowers who may not have a 30% deposit, and anticipates the deals will appeal to both first-time landlords, who may need help with upfront costs, and professional investors.

The move comes after Aldermore increased its maximum LTV for buy-to-let mortgages from 75% to 80% last week.