Leeds Building Society is launching a new range of buy to let mortgages for landlords operating as a limited company.
The new range is intended to complement Leeds Building Society’s existing product offering for this sector.
Leeds BS’s new Limited Company range offers a choice of LTV tiers, with two and five-year fixed rate mortgages at 75% and 80% LTV.
These include a five-year fixed rate deal at 6.40% up to 75% LTV, with a £999 fee.
The new range comes with a choice of product fees, and lending criteria are aligned broadly to those in the market. The maximum loan term is 40 years and there is no maximum age.
Leeds BS’s director of mortgage distribution Martese Carton comments: “We’ve seen a definite trend over the past few years for more landlords to choose to buy, own and let their properties through a limited company structure, rather than as a private individual.”
“Many of the regulatory and taxation changes affecting the private rented sector in the past decade were intended to drive more professionalism among landlords.
“We want to be able to support our intermediary partners as they seek to give their clients the best advice and efficient service in this changing market.
She adds:“Building on the society’s ongoing technology platform upgrades, we’ve added ‘Mortgage Extra’, a bespoke new system to make the application process quick and simple, with a dashboard for brokers to easily view and track their cases’ progress”.
