Leeds Building Society has cut the rate on its two-year discount buy-to-let mortgage by 0.30 percentage points to 4.59%. The product is available up to 70% LTV and allows 10% capital repayments each year, without penalty.

The product comes with a £199 booking fee and a £800 completion fee.

Kim Rebecchi, Leeds Building Society’s sales and marketing director, said: “This highly competitive rate compliments our existing two-year discount available up to 65% LTV