Leeds announce new 5-year tracker

The 1.65% five year tracker is available up to 60% LTV (loan to value) and comes with a free valuation, as well as fees assisted legal services for standard remortgages.

The Society also has reduced rates across its range of BTL mortgages at 60% LTV by 0.10% – highlights include a remortgage-only five year fixed rate deal at 2.39%, with free valuation, fees assisted legal services and a £999 fee.

Jaedon Green, Leeds Building Society’s Director of Product and Distribution, had this to say: “We’re seeing more customers moving towards longer-term products, with five year deals the most popular.

Our five year tracker comes with no ERCs, 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 BTL tax legislation eases in.

The strong set of products in our BTL range is part of continuous efforts to improve our proposition in this sector, such as simplifying our criteria and strengthening our dedicated underwriting team.”