13 March 2017
From Monday 13 March, Leek will be launching a new Buy to Let exclusive to all L&G members.
2 year discounted BTL mortgage, pay rate 1.89%, fee £1,495, valuation fee refunded.
Full details can be viewed here.
The underwriting of the product is that if the customer is a like for like remortgage with no further borrowing they will assess the case at 125% rental coverage on an interest rate of 5.5% If the customer is a purchase or remortgage with extra borrowing the rental coverage will need to be 140% at a rate of 5.5%.
The existing 1.99% exclusive product will be withdrawn as a result of this.