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The Coventry and Leeds Building Societies lowered their buy-to-let mortgage rates this week, making them more attractive to property investors.

Leeds cut their two-year buy-to-let fixed rate mortgage by 36 basis points to 3.99%. The mortgage is available providing you have a 35% deposit and the arrangement fee is low at £999.

Lenders have lowered their buy-to-let rates as many first-time buyers continue to struggle to get a mortgage if they don’t have at least a 10% deposit.

The average length of tenancy in the UK has risen to a record high of 20 months, according to research from the Association of Residential Letting Agents.

August 8, 2012
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