Leeds BS has announced that it has increased the cashback incentive available on selected two and five year buy-to-let products in another move to help landlords.
According to the lender, cashback on their two and five year fixed rate buy-to-let products have been increased from £500 to £1,000. The cashback incentive can help landlords with the finishing touches and costs associated with finding tenants for a new property.
Highlights of the updated cashback range, which include a free standard valuation, include:
2.69% two year Buy To Let mortgage available up to 60% LTV (loan to value) with no fee
2.74% five year Buy To Let mortgage available up to 60% LTV with no fee
Matt Bartle, Leeds Building Society’s Director of Products, said: “We’ve increased the cashback incentives available on some of our Buy To Let products while maintaining our product rates. Of course, landlords can choose how to spend the £1,000 cashback available. Cash freed up at the start of the mortgage could go towards redecorating costs and fees associated with finding tenants.
Increasing cashback available on our Buy to Let range is a further example of how we’ve used our expertise and experience in the market to understand and respond to the needs of customers.”