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Leeds cuts rate on 2 year fixed rate mortgage to only 2.14%

A photograph of Phil Coombes

Leeds Building Society has reduced the rate on its 2 year fixed rate mortgage by 0.26% to just 2.14%. The mutual has also increased the maximum LTV for this product from 65% to 75% LTV. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.

Phil Coombes, Leeds Building Society’s Head of Intermediary Sales said, “We are very pleased to make a rate reduction of 0.26% on our 2 year fixed rate mortgage, to a new rate of only 2.14%. This presents a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments. We have also increased the maximum LTV from 65% to 75%, making this product accessible to more clients.

“This is combined with the flexibility of 10% capital repayments each year at a very affordable rate. 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

Picture above Phil Coombes.

Key features

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

  • 2.14% available up to 75% 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

Leeds Building Society has assets of £10.8bn (as at 30 June 2013) and 67 branches throughout the UK, Gibraltar and Ireland. The Society has operated from the centre of Leeds since 1886.