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Leeds Building Society launches five-year HMO products

Leeds Building Society has added five-year deals to its HMO mortgage range for shared housing.

The offers include a 60 per cent LTV at 2.49 per cent and a 70 per cent LTV at 2.69 per cent. Both products are for small properties and include a fee of £999.

In addition, the lender is offering a 60 per cent LTV product for large properties at 3.54 per cent and a 70 per cent LTV at 3.84 per cent. The two products include a fee of £1,999.

All four offers will become available on 8 February, include free standard valuations and £500 cashback.

Leeds Building Society director of products Matt Bartle comments: “We became the only lender to offer specific products tailored to small and large HMOs when we launched in January.

“Following broker feedback, we’ve developed these new five-year options for small and large HMOs, which we believe will meet the needs of landlords looking to diversify their portfolios and move into this sector.

“Additionally, insight from brokers revealed professional landlords often prefer to use their own legal advisers during the buying or remortgaging process.

“We’ve listened to brokers and introduced £500 cashback across our new five-year HMO range, which could be put towards conveyancing costs should the landlord choose.”

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