Leeds BS adds holiday let deals to offering

Leeds Building Society has added a pair of five-year fixed rate holiday let mortgages to its range.

These include a product at 60 per cent loan to value (LTV) with a rate of 3.4 per cent, and a product at 75 per cent LTV with a rate of 3.99 per cent. 

Both offer a free standard valuation and a fee of £999. There is also the incentive of fees assisted legal services for standard remortgages. 

This month, the mutual amended its holiday let criteria to include average seasonal income in its affordability assessment. It also launched an exclusive product with SimplyBiz Mortgages. 

Matt Bartle (pictured), director of products at Leeds Building Society, said: “Our latest additions to our holiday let offering are likely to appeal to borrowers with larger loan sizes and we’ve improved this range to offer a greater choice of longer term fixed rates.  

“We work hard to provide a choice of rate, term and incentive combinations to suit different customers’ needs and we’ve seen more borrowers favour fixed rates to give them security of payments which helps when budgeting for this type of property.” 

He added: “Holiday let has become more attractive to buy-to-let investors in recent years, as they sought to diversify their property portfolios, and now demand for holidays in the UK remains extremely strong while travel abroad is less straightforward than it was pre-pandemic.” 

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