Please note: Leeds Building Society only accepts mortgage applications from intermediaries where they are providing an advised sales service, with the exception of Buy to Let & Holiday Let applications. It is the responsibility of the intermediary to ensure that all applicable law including, without limitation, the Financial Conduct Authority rules on advised mortgage sales are complied with including, without limitation, the provision of adequate explanations.

Buy to Let mortgage rates

AVAILABLE TO INTERMEDIARIES ONLY

Buy to Let criteria - key points

  1. Rental income must be at least 140% of the interest payable on a stress rate of;
    • 5.50% for purchases and capital raising re-mortgages
    • 5.00% for non-capital raising 'like-for-like' remortgages
    • 5.50% for background buy to Lets with other lenders
  2. No minimum income requirement (evidence of income is still required).
  3. Maximum number of rental properties (irrespective of lender): 8

For full details of our Buy to Let criteria, view our criteria guide.

If you are looking for a Buy to Let remortgage product take a look at our remortgage only page.

Your customers may find our Landlord Guide useful for helpful information on letting properties, or they can visit our Knowledge Base for links to other useful resources.

 

2 Year Fixed Rate Buy To Let Mortgages

Initial rate fixed up to and inc. 31/05/19Then the Society's BTL Variable Rate less 1% discount up to and inc. 31/05/22, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.14%*4.74%5.74%5.0%70%£1499 View
Purchase Only / Max loan amount £500,000
2.19%†4.74%5.74%5.0%70%£999 View
Max loan amount £500,000 / £250 Cashback upon completion
2.50% 4.74%5.74%5.0%70%£199 View
Fees Assisted / Max loan amount £500,000
1.99% 4.74%5.74%5.0%60%£999 View
Purchase Only / Max loan amount £500,000
2.24% 4.74%5.74%5.0%70%£999 View
Purchase Only / Max loan amount £500,000
1.70% 4.74%5.74%4.9%60%£2499 View
Purchase Only / Max loan amount £500,000
2.50%†4.74%5.74%5.1%70%£199 View
Fees Assisted / Max loan amount £500,000 / £250 Cashback upon completion
2.34%†4.74%5.74%5.1%60%£1999 View
Max loan amount £500,000
RATES CORRECT AS AT 14 Mar 2017.

Representative Example

A mortgage of £78,000.00 payable over 25 years initially on a fixed rate for 2 years at 2.50% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.74% for 3 years and then on our current Buy to Let Variable Rate of 5.74% for the remaining 20 years would require 24 monthly payments of £162.50, 36 monthly payments of £308.10 and 240 monthly payments of £373.10.

The total amount payable would be £182,769.60 made up of the loan amount plus interest of £104,535.60 and application fee £0, product fee £199, valuation fee £0.

The overall cost for comparisons is 5.1% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge (unless otherwise specified).
  • For fixed rates up to and including 30/04/19, Tapered Early Repayment Charges apply for the fixed rate period up to and including 30 Apr 2019 (unless otherwise specified).
  • For fixed rates up to and including 31/05/19, Tapered Early Repayment Charges apply for the fixed rate period up to and including 31 May 2019 (unless otherwise specified).
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages.

†These products are only available to borrowers who already have a Buy To Let Mortgage with the Society or where an application is for more than one Buy to Let mortgage on behalf of the same customer.
‡ Unlimited capital repayments are allowed and No Early Repayment Charges apply.
* These products are available for purchase only.

3 year Fixed Rate BTL Mortgages

Initial rate fixed up to and inc. 30/04/20Then the Society's BTL Variable Rate less 1% discount up to and inc. 30/04/22, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.34% 4.74%5.74%4.8%60%£999 View
Max loan amount £500,000
2.65% 4.74%5.74%5.0%70%£999 View
Max loan amount £500,000
RATES CORRECT AS AT 24 FEB 2017

Representative Example

A mortgage of £122,000.00 payable over 25 years initially on a fixed rate for 3 years at 2.65% and then a 1.00% discount on our current Buy to Let Variable Rate of 5.74% for 2 years and then on our current Buy to Let Variable Rate of 5.74% for the remaining 20 years would require 36 monthly payments of £269.42, 24 monthly payments of £481.90 and 240 monthly payments of £583.57.

The total amount payable would be £284,354.60 made up of the loan amount plus interest of £161,320.60 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparisons is 5.0% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply for the fixed rate period up to and including 30 Apr 2020.
  • Maximum loan £500,000.
  • Interest calculated daily.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages (not available for Homes of Multiple Occupancy).

5 year Fixed Rate BTL Mortgages

Initial rate fixed up to and inc. 30/04/22Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
2.45%*5.74%4.6%60%£1999 View
Max loan amount £500,000
2.65%*5.74%4.6%60%£999 View
Max loan amount £500,000
2.85%*5.74%4.7%70%£1999 View
Max loan amount £500,000
3.00%*5.74%4.8%70%£999 View
Max loan amount £500,000
3.10% 5.74%4.8%70%£199 View
Fees Assisted / Max loan amount £500,000
3.00%‡5.74%4.8%70%£999 View
Max loan amount £500,000 / £250 Cashback upon completion
3.10%‡5.74%4.8%70%£199 View
Fees Assisted / Max loan amount £500,000 / £250 Cashback upon completion
RATES CORRECT AS AT 24 feb 2017

Representative Example

A mortgage of £125,000.00 payable over 25 years initially on a fixed rate for 5 years at 3.00% and then on our current Buy to Let Variable Rate of 5.74% (variable) for the remaining 20 years would require 60 monthly payments of £312.50 and 240 monthly payments of £597.92.

The total amount payable would be £288,284.00 made up of the loan amount plus interest of £162,250.00 and application fee £0, product fee £999, valuation fee £0.

The overall cost for comparison is 4.8% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply for the fixed rate period up to and including 30 Apr 2022.
  • Interest calculated daily.
  • Maximum loan £500,000.
  • Free standard valuation up to £999 and Fees assisted legal services for standard re-mortgages (not available for Homes of Multiple Occupancy).

‡These products are only available to borrowers who already have a Buy To Let Mortgage with the Society or where an application is for more than one Buy to Let mortgage on behalf of the same customer.

Variable Rate BTL Mortgages

The Society's BTL Variable Rate applies for the term of the mortgage, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
5.74%6.2%70%£0 View
Max loan amount £500,000
RATES CORRECT AS AT 1 SEP 2016

Representative Example

A mortgage of £150,000 payable over 25 years on our Buy to Let Variable Rate for the mortgage term of 25 years at our current rate of 5.74% (variable) would require 300 monthly payments of £717.5.

The total amount payable would be £365,555 made up of the loan amount plus interest of £215,250 and application fee £0, product fee £0, valuation fee £270.

The overall cost for comparison is 5.9% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • Unlimited capital repayments are allowed.
  • Maximum loan £500,000.
  • Interest calculated daily.

2 year Discounted BTL Rate

Initial variable rate for the first 2 years, (currently)TermsThen the Society's BTL Variable Rate less 1% discount for 3 years, (currently)Then the Society's BTL Variable Rate thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct Fee
1.85%The Society's BTL Variable rate less 3.89%4.74%5.74%5.2%60%£199 View
Fees Assisted / Max loan amount £500,000
1.85%*‡The Society's BTL Variable rate less 3.89%4.74%5.74%5.2%60%£199 View
Fees Assisted / Max loan amount £500,000 / £250 Cashback upon completion
RATES CORRECT AS AT 24 FEB 2017

Representative Example

A mortgage of £101,000 payable over 25 years initially on a 3.89% discount on our current Buy to Let Variable Rate of 5.74% for 2 years and then a 1% discount on our current Buy to Let Variable Rate of 5.74% for 3 years and then on our current Buy to Let Variable Rate of 5.74% for the remaining 20 years would require 24 monthly payments of £155.71, 36 monthly payments of £398.95 and 240 monthly payments of £483.12.

The total amount payable would be £235,281.2 made up of the loan amount plus interest of £134,047.2 and application fee £0, product fee £199, valuation fee £0.

The overall cost for comparison is 5.2% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product fee is payable on application but is refundable should the mortgage not complete. A mortgage exit fee of £199 will apply.

Additional Features

  • 10% capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply for the first 2 years.
  • Interest calculated daily.
  • Maximum loan £500,000.

* Free standard valuation up to £999 and Fees assisted legal services for standard re-mortgages (not available for Homes of Multiple Occupancy)
‡These products are only available to borrowers who already have a Buy To Let Mortgage with the Society or where an application is for more than one Buy to Let mortgage on behalf of the same customer.