Sesame and PMS launch exclusive BTL products


Sesame and PMS are launching two exclusive buy-to-let products with no early repayment charges via Leeds Building Society.

The first is 2.55 per cent fixed until 31 August 2018 up to 60 per cent LTV.

The second is 2.99 per cent fixed until 31 August 2018 up to 70 per cent LTV.

Both include a free standard valuation for customers, up to a value of £999.

The two products have no up-front booking fees and a £1499 arrangement fee.

The arrangement fee is payable on completion but can be added to the loan within the maximum loan to value limits.

Fees-assisted legal services are also available for remortgage customers.

At the end of the fixed rate period the products give a 1 per cent discount off the current buy-to-let variable rate of 5.99 per cent until 31 August 2021.

Sesame Bankhall Group senior product manager Rob McCoy says: “No early repayment charges on a fixed rate is not something we see very often; especially in the buy-to-let market. At a time when many landlords are uncertain about how the recent tax changes will impact on them, as well as not knowing when the next interest rate change is likely to occur, the stability of a fixed rate coupled with the flexibility this deal offers makes these products an attractive proposition.”

Leeds Building Society director of product and distribution Jaedon Green says: “There have been many changes affecting the buy-to-let market this year and landlords are currently in a period of adjustment as the new regulations and phased tax changes take effect. Change creates uncertainty so these exclusive deals with no penalties for early redemption offer borrowers extra flexibility.”