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Rates refresh on Leeds Building Society five year fixes

Leeds Building Society is refreshing its range of five year fixed rate mortgages at 80% and 85% LTV (loan to value).

From Friday, 17th October, the Society will reduce its five year fixed rate mortgages:

  • from 3.39% to 3.34% up to 80% LTV, and
  • from 3.99% to 3.79% up to 85% LTV.

The Society also will offer a competitive fee assisted five year fixed rate mortgage up to 85% LTV, reduced from 4.14% to 3.99%. This comes with a low £199 fee, free standard valuation up to £335 and fees assisted legal services for standard remortgages.

"With speculation growing about when the Base Rate will finally begin to rise again, we're seeing steady interest in longer term fixed rate mortgages," said Martin Richardson, Leeds Building Society's General Manager – Business Development.

"We expect these new five year deals to appeal to home buyers with a larger deposit or homeowners with at least 15% equity in their property.

"Now could be an ideal time for borrowers to lock into a competitive deal – this time of year is traditionally peak season for remortgaging and it's worth homeowners reviewing whether switching to a more competitive deal while rates are low could bring down their monthly repayments or shorten their mortgage term, and provide them with longer-term security of payment over the next five years."

Ends

Notes to Editors

5 Year Fixed Rate mortgage at 3.34% up to and including 31st December 2019:

  • Five Year Fixed Rate mortgage at 3.34% up to and including 31st December 2019 available up to 80% LTV
  • £999 Fee
  • 10% penalty free capital repayments are allowed each year
  • Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed

5 Year Fixed Rate mortgage at 3.79% up to and including 31st December 2019:

  • Five Year Fixed Rate mortgage at 3.79% up to and including 31st December 2019 available up to 85% LTV
  • £999 Fee
  • 10% penalty free capital repayments are allowed each year
  • Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed

Fees Assisted 5 Year Fixed Rate mortgage at 3.99% up to and including 31st December 2019:

  • Five Year Fixed Rate mortgage at 3.34% up to and including 31st December 2019 available up to 80% LTV
  • £199 Fee
  • Free standard valuation up to £335
  • Fees assisted in-house legal services for standard re-mortgages
  • 10% penalty free capital repayments are allowed each year
  • Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed

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 won three awards for innovation so far this year, having been named 'Innovator of the Year' at the Moneywise Magazine Mortgage Awards 2014 for its Welcome Mortgage. This allows borrowers to pay 0% interest for the first few months of their term so they can free up cash to help them settle into their new home.

The Society also scooped the 'Mortgage Innovation Award' and was named 'Most Innovative Personal Finance Provider' at the Moneynet Personal Finance Awards 2014.

Leeds Building Society has 67 branches throughout the UK, Gibraltar and Ireland and assets of £12.1bn (as at 30 June 2014). The Society has operated from the centre of Leeds since 1886.