Leeds Building Society has cut the rates on its ‘Welcome Mortgage’ range by up to 0.34 per cent.
The Society’s ‘Welcome’ range was launched in summer 2013, offering purchasers a combination of flexibility and certainty over a 2, 3 or 5-year term.
To enhance the range further, the Society’s 2 year fixed rate, available up to 80 per cent, loan to value (LTV) has been reduced by 0.34 per cent from 3.39 per cent to 3.05 per cent, with the 2 Year version up to 85 per cent LTV being lowered from 4.07 per cent to 3.74 per cent.
Leeds has cut the 5 year fixed rates by 0.11 per cent to 4.12 per cent up to 80 per cent LTV and by 0.22 per cent to 4.23 per cent up to 85 per cent LTV.
The total cost of the Welcome products is comparable with the standard fixed rate mortgages offered by the Society. There is no completion fee, a free standard valuation is available up to £335 and 10 per cent capital repayments are allowed each year without penalty.
Martin Richardson, Leeds Building Society’s General Manager – Business Development said, “These offers deliver certainty at an affordable rate and are excellent options for purchasers. Clients can choose a 0 per cent interest rate period and pay capital only. This reduces their outgoings immediately. They then pay a fixed monthly payment for the remainder of the product period at a competitive and affordable rate, creating flexibility and certainty at the same time.
“Our offering had previously been enhanced further by adding £200 cashback to the range. The 2, 3 and 5 year products deliver certainty at an affordable rate and are excellent options for purchasers.”
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