The product, fixed until February 2015, has a flat completion fee, a free valuation up to £335 for purchases and remortgages and free legals for remortgages only.
Andy Young, chief executive at TBMC, said: “This is an excellent exclusive and is a great choice for landlord clients who want a higher-geared investment. It is also an excellent remortgage product, especially for those looking to release equity from existing properties. With high rental yields and strong tenant demand it could be a good time for landlords to consider expanding their portfolios with further buy-to-let properties.”
Parveen Kumari, intermediary account manager at Leeds Building Society, said: “The buy-to-let mortgage market has performed well so far in 2012 and Leeds has competed successfully with its buy-to-let proposition. We have been targeting specific segments of the market by distributing certain products through specialist buy-to-let broker, TBMC. Our previous 80% LTV exclusive with TBMC has sold well and we are expecting this re-designed version, also with a free valuation, to be popular too.”
