Buy to let landlords who are looking to remortgage can now take advantage of two new fixed rate deals from Leeds Building Society (LBS), both of which are available up to 70 per cent loan to value and also come with no completion fee.
There’s a 3.04 per cent two-year fixed rate fees assisted Buy to Let (BTL) mortgage, as well as a 3.49 per cent five-year fixed rate fees assisted Buy to Let product.
Director of product and distribution with LBS Jaedon Green observed that many landlords out there will now be reviewing their portfolios following the tax and regulation revisions that are now affecting Buy to Let sector.
“We expect to see more movement in this market, especially as tax relief on buy to let repayments is reduced. The incentives on these latest competitive remortgage deals keep the cost of switching to a minimum and the two fixed terms offer landlords a choice about when they next review their finances,” he added.
At the start of the month, LBS also announced that it would be extending its range of competitive BTL mortgages by launching to new fixed rate products without early redemption charges (ERCs). Mr Green observed at the time that removing the ERCs will mean that landlords can change how they deal with the emerging legislation while also retaining a certain degree of flexibility.
If you’re currently seeking mortgage advice in York, get in touch with our experienced team here at Let’s Talk Mortgages. We can help you shop around for the best remortgaging deals out there on the market.