Tracker Rate mortgages

We have a range of competitive Tracker Rate mortgages suitable for a range of needs, now and in the future. The interest rates on our tracker mortgages tracks the Bank of England’s (BoE or UKBBR) base rate plus a fixed percentage for a set period of time, meaning your repayments will vary monthly if the BoE base rate changes. That means in months when your payments fall, you have the option of over-paying, if your chosen product allows for this. This means you’ve got the chance to pay off your mortgage even quicker. It also means, of course, that if the BoE’s base rate goes up, so will your payments. At the end of the Tracker Rate period, your rate will switch to the Society’s standard variable rate (SVR) for the remainder of the term.

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

2 Year BoE Base Rate Tracker

Initial rate variable up to and inc. 28/02/19, (currently)TermsThen the Society's SVR thereafter, (currently)Overall cost for comparison (APRC)Max LTVProduct arrangement fee
1.45% BoE base rate + 1.45%5.44%5.1%75%£199 View
Fees Assisted / Max loan amount £500,000
1.55% BoE base rate + 1.55%5.44%5.1%80%£199 View
Fees Assisted / Max loan amount £500,000
RATES CORRECT AS AT 29 Nov 2016

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

Representative Example

A mortgage of £150,000.00 payable over 25 years on a tracker rate for 2 years at 1.45% above the UKBBR and then on our current Standard Variable Rate of 5.44% for the remaining 23 years would require 24 monthly payments of £613.76 and 276 monthly payments of £890.42.

The total amount payable would be £260,720.35 made up of the loan amount plus interest of £110,486.35 and booking fee £0, product arrangement fee £199, valuation fee £0.

The overall cost for comparison is 5.1% 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.

  • No Higher Lending Charge.
  • 10% capital repayments are allowed each year during the fixed rate period without incurring an Early Repayment Charge.
  • Tapered Early Repayment Charges apply up to and including 28 Feb 2019.
  • Interest calculated daily.
  • These products are not available to interest only applications.
  • Free standard valuation up to £999.
  • Fees assisted legal services for standard re-mortgages.
  • 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 .