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Tuesday, June 17, 2014

Leeds BS cuts BTL mortgage fees

Landlords interested in a low cost buy-to-let mortgage product will be interested to know that the Leeds Building Society has reduced it's fees on it's low cost buy-to-let mortgage.

The mortgage fee on both its 3.24% 2 year fixed rate buy-to-let mortgage and it's 2.84% 2 year tracker have come down to £199.  The mortgages include a free standard valuation up to £335 and free in house legal services for the mortgage.  Usefully, for a landlord the mortgage allows up to 10% capital repayments each year.

The downside to this mortgage is that its loan to value (LTV) is low at 60% maximum and it has a relatively low ceiling of maximum loan size of £500,000.

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