The Leeds Building Society has reduced the rate on its three-year fixed rate buy-to-let mortgage by 0.25 percentage points to 4.14%.

It has no higher lending charge and allows 10% capital repayments each year without penalty.

There is a £199 booking fee and £800 completion fee. The deal has tapered early repayment charges of 4% of the amount redeemed in year one, 3% in year two and 2% in year three.

“This flat fee product will attract professional landlords, who may wish to fix their monthly commitments,” said Phil Coombes, Leeds Building Society’s head of intermediary sales.