Leeds Building Society has launched a new five-year buy-to-let mortgage at 5.49%.

The mortgage allows 10% capital repayments each year without penalty, is available up to 80% loan to value and there is no higher lending charge. A fee free version is also available at only 5.99%.

Stuart Fearn, product development manager at the Leeds, said: "Some landlords who currently have discount or tracker mortgages may be concerned about what will happen to their monthly payments if interest rates continue to rise. This product protects them against any increases and provides excellent peace of mind." All rates are available online at www.Mortgage-Shop.co.uk.