Leeds announces rate reductions to HMO products

Leeds Building Society has announced a series of rate reductions by up to 0.45 per cent on large HMO products.

Notable reductions include the 75 per cent LTV two-year fixed rate large HMO product reduced from 3.84 per cent to 3.39 per cent.

In addition, the 70 per cent LTV two-year fix large HMO offering has been cut from 3.69 per cent to 3.34 per cent.

Both products include £500 cashback, free valuations and a £1,999 fee.

Leeds Building Society director of products Matt Bartle says: “We used our extensive experience and expertise within the buy-to-let market, which includes specialist underwriting, as well as portfolio landlord and Holiday Let ranges, to introduce a unique HMO proposition in January.

“Our rate reductions across our large HMO range is a further example of the support we offer to borrowers who are currently under-served by the wider market.”

This comes after Leeds Building Society announced a 15-year fixed rate retirement interest-only mortgage product at the back end of last month.

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