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Leeds reduces Welcome Mortgage offering by up to 0.34%

Leeds Building Society has cut the rates on its ‘Welcome Mortgage’ range by up to 0.34%. 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. Furthermore, to complement this range last autumn the mutual introduced a £200 cashback incentive on its 2, 3 and 5 year fixed rate ‘Welcome Mortgages.’

To enhance the range further, the Society’s 2 Year Fixed Rate available up to 80% LTV has been reduced by 0.34% from 3.39% to 3.05%, with the 2 Year version up to 85% LTV being lowered from 4.07% to 3.74%. Leeds has cut the 5 year fixed rates by 0.11% to 4.12% up to 80% LTV and by 0.22% to 4.23% up to 85% 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% capital repayments are allowed each year without penalty.

Martin Richardson, Leeds Building Society’s General Manager — Business Development said, “I am very pleased that we are able to reduce the rates on our 2-year Welcome Mortgage, available up to 80% LTV, from 3.39% to 3.05% and from 4.07% to 3.74% up to 85% LTV. We have also lowered rates by up to 0.22% on the 5 year products.

“These offers deliver certainty at an affordable rate and are excellent options for purchasers. Clients can choose a 0% 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.”

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.

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For further information please contact: Gary Brook - Head of Corporate Communication Tel- 0113 225 7606 - Out of Hours: 07866455111 Email: gbrook@leedsbuildingsociety.co.uk

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.

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.

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