New buy to let mortgage range launched by Leeds.

New buy to let mortgage products have been introduced by Leeds Building society, which includes a simplified approach to their lending criteria.

The loans start at a mortgage rate of 2.75%, for an LTV of up to 70%.

Leeds offers various LTV amounts, the product fees for which vary. All fees should be carefully factored into your calculations when determining all-round cost effectiveness.

Landlords who are seeking to remortgage, should be aware that the income covering ratio Leeds stipulate is 140%. If no additional borrowing is included in the remortgage deal, the stress test is done using a rate of 5.0%. No minimum income requirement applies.

The market is currently experiencing an increased demand from landlords ahead of the tax changes that come into effect in April. Proactive landlords are seeking out competitively priced remortgage offers to help them minimise costs as much as possible, and maintain profits.

For a wide choice of buy to let mortgage ranges, you need look no further than Deal Direct.

We are regulated to offer independent mortgage advice; however, we are not regulated to offer general financial advice. If you want to discuss the suitability of property as an investment, you will need to contact an independent financial adviser.

Please note: 

Buy to let mortgage applications from:

• applicants whose intention is to benefit from house price growth
• applicants whose intention is to benefit from rental income
• applicants who are letting to buy

will be treated as normal buy to let and not as a consumer buy to let. In addition, their subsequent remortgage applications will also be treated in the same manner.

For the best value buy to let deals, call 0800 048 8828 now.