Leeds Building Society has launched a new 5-year fixed rate buy-to-let mortgage, at 5.99% up to 60% LTV, which has been selected as a Best Buy and awarded four stars by a financial website.

The Society has also unveiled a 5 year fixed rate buy-to-let mortgage at 6.29% up to 65% LTV.

Both tiers of this new product have no higher lending charge and 10% capital repayments are allowed each year without penalty.

The product has been specifically designed to suit the needs of landlords looking for a competitive fixed rate. There is a £199 booking fee and a £1,350 completion fee.

Kim Rebecchi, Director of Sales and Marketing for Leeds said, “These new buy to let mortgages are competitive and offer the flexibility of being able to pay off 10% of the capital without penalty.

“They also allow landlords to lock in value and provide certainty of payments.”