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Leeds BS opens Easy Start range for landlords

Leeds Building Society has launched an ‘easy start’ buy-to-let mortgage for landlords, with 0 per cent interest for the first three months.

The building society says it is an updated version of its Welcome Mortgage which was introduced to help borrowers while their finances may be tight around the period of moving house. The new version is to allow landlords to get properties ready for renting, according to Leeds Building Society.

The four Easy Start products launched today are a 2.72 per cent loan available up to 60 per cent loan to value, with a £999 fee, a 2.82 per cent loan available up to 60 per cent LTV with no fee, a 3.09 per cent loan available up to 70 per cent LTV with a £999 fee and finally a 3.24 per cent available up to 70 per cent LTV with no fee.

Leeds Building Society director of product and distribution, Jaedon Green, says Easy Start could ease pressure on landlords during an initial void period.

Our Welcome Mortgage won awards and industry praise so we looked at how we could tailor its benefits for Buy to Let borrowers.

When they first buy a property they might need to decorate or carry out refurbishments before tenants can move in, so clearly there’d be no rent coming in over that time. Cash freed up at the start of the mortgage could go towards a higher-quality fit-out to help to secure a better rental return.”


Leeds Building Society cuts RIO rate

Leeds Building Society has announced a rate cut to its retirement interest-only mortgage product. Available for borrowers between 55 and 80 with up to 55 per cent LTV and a £999 fee, the five-year fixed rate has been cut from 3.74 per cent to 3.62 per cent. The building society launched its RIO product in […]

Peter Hill to leave Leeds Building Society

Leeds Building Society has announced in its half yearly results that chief executive Peter Hill (pictured) will retire in February 2019. He will hand over the role to current chief commercial officer Richard Fearon, who has become deputy chief executive with immediate effect. Leeds Building Society chairman Robin Ashton says: “Peter has provided outstanding vision […]


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