The Mortgage Alliance (TMA) has unveiled an exclusive two-year buy-to-let discount product funded by the Leeds Building Society.

The product is a 1.75% two-year discount converting to a rate of 4.24% and is available up to 70% LTV for remortgage and purchase customers.

It has a £1,300 completion fee which can be added to the loan provided the LTV does not exceed the 70% LTV once added.

There is also a booking fee of £199 as well as a free standard valuation up to £335.

It has tapered early repayment charges of 3% in year one and 2% in year two of the amount redeemed and 10% capital repayments are allowed each year with no penalty. The maximum loan amount allowed for this product is £500,000.

The Leeds recently stated it is aiming to increase its mortgage lending by 25% in 2011 to £1.25 billion.

Phil Whitehouse , head of TMA, said: “The buy-to-let market is certainly one of the most widely anticipated lending arenas in 2011 with confidence