View more on these topics

Leeds & Holbeck provides low rate buy-to-let

Leeds & Holbeck Building Society is undercutting its rivals with its latest fixed-rate buy-to-let mortgage.

The five-year fixed buy-to-let mortgage has a fixed-rate of 6.24 per cent until November 1, 2006 for loans of up to 75 per cent of valuation.

It can be used to purchase up to three properties, with a minimum property value of £50,000. Properties purchased in London must have a minimum value of £85,000 and properties in the south east must have a minimum value of £70,000.

The mortgage has an arrangement fee of £395 and comes with compulsory buildings and contents insurance. It also has a redemption penalty of six months’ interest in the first three years and three months’ interest in the next two years.

According to Business Moneyfacts on September 4, 2001, this is the lowest rate available in the five-year fixed-rate buy-to-let mortgage market. Its nearest competitor is from Cheshire Building Society which has a product with a fixed-rate of 6.35 per cent until August 31, 2006 for loans of up to 80 per cent of value. This can be used to buy up to three properties, comes with compulsory buildings and contents insurance and has an arrangement fee of £295. Redemption penalties start at 5 per cent in the first year, descending by 1 per cent a year to year five.

Breaking the costs of the two mortgages down, based on a £100,000 loan, according to Sovereign Financial Services the Leeds & Holbeck mortgage will cost £666.83 a month and the Cheshire product will cost £673.73. If both are redeemed in the first year, the Leeds & Holbeck mortgage will cost £3,505 in redemption fees and the Cheshire mortgage will cost £5,050.


UCB Home Loans – Buy2Let 5 Year Fixed

Thursday, 6 September 2001.Fixed term: Five years.Fixed rate: 6.89 per cent.Minimum loan: £25,001.Maximum loan: Up to 80 per cent of valuation subject to a maximum of £400,000.Income multiples: 3.25 times principal income plus second plus 6.5 times annual rental income or 2.75 times joint plus 6.5 times annual rental income.Arrangement fee: £495.Redemption fee: Six months&#39 […]

IFA Promotions issues recession survival guide

IFA Promotions is producing a guide for consumers, giving advice on how to protect against a recession.The guide, available at, looks at strategies for choosing financial products that reduce exposure to recession.IFA Promotions chief executive David Elms says: “Whilst we are unlikely to experience the problems of 10 years ago, it is worthwhile making […]

Abbey Nat warning for Royal London recruiters

Abbey National has warned rival Royal London not to poach Scottish Provident staff for its new Edinburgh-based protection business. ScotProv has also sent employees a memo outlining how joining the competitor could have legal implications and telling them if they are approached they must inform the head of personnel immediately. ScotProv has been haemorrhaging staff […]

ScotEq adds corporate bond option

Scottish Equitable is introducing a corporate bond option as part of its Performance bond investment fund range. The option is aimed at cautious investors looking for better returns than available from deposit accounts. The extra-income corporate bond fund will sit alongside ScotEq&#39s existing fixed-interest funds which invest in a range of foreign government securities and […]

Europe: Volatile share prices create opportunities for long-term investors

Mark Page and Laurent Millet, managers of the Artemis European Opportunities Fund, look at why, how and where fluctuations in European markets can generate opportunities for their fund. When asked what the stock market would do next, John Pierpont Morgan is reported to have replied that “it will fluctuate”. His (apocryphal) answer proved accurate. Over […]


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm