The Leeds Building Society has cut the rate on its two-year fixed rate buy-to-let mortgage to 4.89%.

The product has a fixed fee of £999 and allows 10% capital repayments each year, without penalty, and there is no higher lending charge.

Kim Rebecchi, the Leeds’ sales and marketing director, said: “We have looked at the market and delivered a highly competitive fixed rate buy-to-let. When you look at what is currently available