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Leeds adds to BTL range with 1.44% fix

Leeds Building Society has added new two-year fixed rate buy-to-let mortgages to its product range with rates starting from 1.44 per cent for a two-year fixed at 40 per cent loan-to-value.

The second product it has added is a 1.69 per cent two-year fixed at 70 per cent LTV.

The products come with free standard valuation, fees assisted legal services and a £2,499 fee.

Leeds director of product and distribution Jaedon Green says: “The underlying economics of buy-to-let are changing as the Government’s tax changes start to bite.

“Fixed-rate products continue to look attractive, offering certainty over funding costs, but the gradual introduction of the tax changes and tapering off of tax relief, potentially creates opportunities.

He adds: “High fee products enable landlords to front load funding costs and maximise use of existing tax relief, while minimising the interest payable in future years, when tax relief is less favourable.”

“The Society has recently strengthened its dedicated buy-to-let mortgage underwriting team to further enhance the application process, as well as simplifying its criteria for this form of lending.”

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