Leeds Building Society has reduced the rate on its two-year fixed rate mortgage by 0.15 per cent to just 2.09 per cent available up to 65 per cent loan-to-value (LTV).
There is no higher lending charge and 10 per cent capital repayments are allowed each year without penalty.
If borrowers have a 25 per cent deposit (75 per cent LTV) the rate has been reduced to 2.49 per cent. For LTV between 76 per cent and 80 per cent the rate is 2.99 per cent; and LTV between 81 per cent and 85 per cent offers a rate of and at 3.85 per cent.
Phil Coombes, Leeds Building Society’s head of intermediary sales, said: “We are delighted to make rate reductions across our two-year fixed rate mortgage range, which presents a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments.
“The products deliver clients with the peace of mind and security that their monthly payments will remain the same for two years. This is combined with the flexibility of 10 per cent capital repayments each year at a very affordable rate.”
Fees assisted two-year fix
The society has also reduced the rates on the ‘fees assisted’ version of this product by 0.40 per cent to 2.59 per cent available up to 60 per cent LTV, and by 0.35 per cent to 2.79 per cent up to 75 per cent LTV.
Leeds Building Society says these deals are ideal for remortgages, offering free standard valuations and free in-house legal services for standard remortgages, together with reduced fees.
There are also fees assisted versions on offer, following reductions in rate of 0.30 per cent, at 3.29 per cent up to 80 per cent LTV and 3.99 per cent up to 85 per cent LTV.
