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Leeds reduces rate to market leading 2.09% on 2 year fixed rate mortgage

Leeds Building Society has reduced the rate on its 2 year fixed rate mortgage by 0.15% to a new, market leading rate of just 2.09% available up to 65% LTV. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty. There are also versions available, delivering exactly the same flexibility and following rate reductions of up to 0.16%, at 2.49% up to 75% LTV, 2.99% between 76% and 80% LTV and at 3.85% between 81% and 85% LTV.

Phil Coombes, Leeds Building Society’s Head of Intermediary Sales said, “We are delighted to make rate reductions across our 2 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% capital repayments each year at a very affordable rate.”

The Society has also reduced the rates on the ‘fees assisted’ version of this product by 0.40% to 2.59% available up to 60% LTV, and by 0.35% to 2.79% up to 75% LTV. These deals are ideal for re-mortgages, offering free standard valuations and free in-house legal services for standard re-mortgages, together with reduced fees. There are also fees assisted versions on offer, following reductions in rate of 0.30%, at 3.29% up to 80% LTV and 3.99% up to 85% LTV.

Phil Coombes continued, “Many clients will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage clients who may be coming to the end of their current deal.”

To discuss a new case with one of our mortgage development team, mortgage introducers should go to www.leedsintroducer.co.uk to find details of their nearest Business Developer contact.

Ends

Notes to Editors

Key Features

2 Year Fixed Rate up to and including 31 May 2015 (Introduced Only)

  • 2.09% available up to 65% LTV
  • No Higher Lending Charge
  • £199 Booking Fee
  • £800 Completion Fee up to £500,000, 1.00% over £500,000
  • 10% capital repayments are allowed each year without penalty
  • Tapered early repayment charges of 3% of the amount redeemed in year 1 and 2% in year 2
  • Interest is calculated on a daily basis

2 Year Fixed Rate up to and including 31 May 2015 (Introduced Only)

  • 2.49% available up to 75% LTV
  • 2.99% available from 76% to 80% LTV
  • 3.85% available from 81% to 85% LTV
  • Maximum loan of £500,000 over 80% LTV
  • No Higher Lending Charge
  • £199 Booking Fee
  • £800 Completion Fee up to £500,000. Over £500,000 fee will be 1.00% of loan amount
  • 10% capital repayments are allowed each year without penalty
  • Tapered early repayment charges of 3% of the amount redeemed in year 1 and 2% in year 2

Fees Assisted 2 Year Fixed Rate up to and including 31 May 2015 (Introduced Only)

  • 2.59% available up to 60% LTV
  • 2.79% available from 61% to 75% LTV
  • 3.29% available from 76% to 80% LTV
  • 3.99% available from 81% to 85% LTV
  • Maximum loan of £500,000 over 80% LTV
  • 10% capital repayments are allowed each year without penalty
  • No Higher Lending Charge
  • £199 Booking Fee
  • No Completion Fee
  • Free standard valuation up to £335
  • Free in house legal services for standard re-mortgages
  • Tapered early repayment charges of 3% of the amount redeemed in year 1 and 2% in year 2

Leeds Building Society has assets of £10.3bn (as at 31 December 2012) and 67 branches throughout the UK, Gibraltar and Ireland. The Society has operated from the centre of Leeds since 1886.