Discounted Rate Mortgages

We know that you will have many things to buy when purchasing your new home, so you have to be able to afford much more than your mortgage payments. To help with this, we offer a range of products with rates discounted for the first 2 or 3 years. This reduces your payments for the discount period. The mortgage rate then increases for the remainder of the mortgage period.

You can choose from applying online¹ (unless stated below), in branch or over the phone, and can even use our mortgage calculator and get a decision in principle today.

Warning:THE MORTGAGED PROPERTY (WHICH MAY BE YOUR HOME) MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON YOUR MORTGAGE

3 year Discounted Rates

Initial rate variable for the first 3 years variable, (currently)TermsThen the Society's SVR less 1% discount for 2 years, (currently)Then the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct arrangement fee
2.35% The Society's SVR less 3.09%4.44%5.44%4.6%80%£199 View
Fees Assisted / Max loan amount £500,000
2.94% The Society's SVR less 2.50%4.44%5.44%4.7%85%£199 View
Fees Assisted / Max loan amount £500,000
RATES CORRECT AS AT 1 SEP 2016

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £154,000 payable over 25 years initially on a 2.5% discount on our current Standard Variable Rate of 5.44% for 3 years and then a 1% discount on our current Standard Variable Rate of 5.44% for 2 years and then on our current Standard Variable Rate of 5.44% for the remaining 20 years would require 36 monthly payments of £724.91, 24 monthly payments of £836.29 and 240 monthly payments of £909.39.

The total amount payable would be £264,656.27 made up of the loan amount plus interest of £110,422.27 and booking fee £0, product arrangement fee £199, valuation fee £0.

The overall cost for comparison is 4.7% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product arrangement fee is payable on application but is refundable should the mortgage not complete. A redemption fee of £199 will apply.

Additional Features

  • No Higher Lending Charge.
  • Unlimited capital repayments are allowed each year without incurring an Early Repayment Charge.
  • Payment holidays are available subject to sufficient over payments being made. Interest will be changed during any payment holiday period.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages.
  • Interest calculated daily.
  • These products are not available to interest only applications.

Initial rate variable for the first 5 years variable, (currently)TermsThen the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct arrangement fee
1.55% The Society's SVR less 3.89%5.44%4.0%80%£499 View
Fees Assisted / Max loan amount £500,000
1.70% The Society's SVR less 3.74%5.44%4.0%85%£499 View
Fees Assisted / Max loan amount £500,000
RATES CORRECT AS AT 06 DEC 2016

Warning: Your home may be repossessed if you do not keep up repayments on your mortgage.

Representative Example

A mortgage of £153,000.00 payable over 25 years initially on a 3.89% discount on our current Standard Variable Rate of 5.44% for 5 years and then on our current Standard Variable Rate of 5.44% for the remaining 20 years would require 60 monthly payments of £615.19 and 240 monthly payments of £867.93 .

The total amount payable would be £245,747.98 made up of the loan amount plus interest of £92,213.98 and booking fee £0, product arrangement fee £499, valuation fee £0.

The overall cost for comparison is 4.0% APRC representative.

This representative example assumes a mortgage completion date on the 1st day of a calendar month.

The above representative example is for illustration purposes only and may vary depending on your personal circumstances.

Unless otherwise indicated, these products are only available for house purchases or for customers remortgaging from another lender. A product arrangement fee is payable on application but is refundable should the mortgage not complete. A redemption fee of £199 will apply.

Additional Features

  • No Higher Lending Charge.
  • 10% capital repayments are allowed each year during the variable rate period without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply for the first 5 years.
  • Payment holidays are available subject to sufficient over payments being made. Interest will be changed during any payment holiday period.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages.
  • Interest calculated daily.
  • These products are not available to interest only applications.

¹If you apply for a mortgage online you will not receive advice from Leeds Building Society. You will need to make your own choice about which mortgage is suitable for you and we will not assess the suitability of that mortgage to your needs and circumstances. You will not benefit from the protections offered by an advised service. This is called an execution only transaction. If you would like to receive advice from us please call into one of our branches (find a branch) or contact us on 03450 50 50 75 .