Leeds Building Society has added to its buy-to-let range by launching a new buy-to-let five-year tracker with no early redemption charges.
The 1.65% five year tracker, available for purchase or remortgage at up to 60% loan-to-value (LTV), comes with a free valuation, as well as fees assisted legal services for standard remortgages.
The lender has also cut rates across its range of buy-to-let mortgages at 60% LTV by 0.1%, which includes a remortgage-only five-year fixed rate deal now starting at 2.39%, with free valuation, fees assisted legal services and a £999 fee.
“We’re seeing more customers moving towards longer-term products, with five year deals the most popular,” said Jaedon Green, Leeds Building Society’s director of product and distribution.
He added: “Our five-year tracker comes with no early redemption charges, so the borrower has no penalty charges if they decide to redeem their mortgage within the term, for example if they sell their property.
“This flexibility is useful to landlords, who may be reviewing their portfolios as the new buy-to-let tax legislation eases in.”