Market-leading new tracker mortgage launched by Leeds Building Society
Leeds Building Society has launched a new two year tracker mortgage with a market-leading rate of Base Rate +2.49% (currently 2.99%) and a low fee.
Available for loans up to 85% LTV (loan to value), the mortgage has a £199 booking fee and a £400 completion fee.
The new tracker also comes with a range of benefits including a free standard valuation up to £335, and free in-house legal services for standard remortgages.
“The Bank of England Base Rate has been at its historically-low level of 0.5% for exactly five years,” said Martin Richardson, Leeds Building Society’s General Manager – Business Development.
“Borrowers who don’t expect an increase in the near future might want to act now to choose this product, which is the market-leader for two year tracker mortgages available through intermediaries.
“The mortgage also comes with a package of benefits, including a free standard valuation, to reduce upfront costs.
“If they prefer the flexibility of a tracker mortgage, the two year term on this product gives borrowers the opportunity to review their home loan options at the end of this period.”
Notes to Editors
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.
Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £11.2bn (as at 31 December 2013). The Society has operated from the centre of Leeds since 1886.
2 Year Base Rate +2.49% Tracker Mortgage up to and including 31 May 2016:
- Maximum 85% LTV.
- Interest rate at Base Rate +2.49% until 31/05/2016.
- £199 Booking Fee.
- £400 Completion Fee.
- Free standard valuation up to £335.
- Free in-house legal services for standard remortgages.
- 10% capital repayments are allowed each year.
- Maximum loan of £500,000.