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Leeds Building Society revamps mortgage range for New Year

Leeds Building Society is relaunching its full mortgage range to kick off the New Year.

Improvements launched on Wednesday, 31st December, include rate reductions of up to 0.49% and competitive new fixed rate and tracker residential products, as well as adding to its Buy to Let offering with new products and some rate cuts.

Highlights include:

  • Three year fixed rate mortgage cut to 2.39% from 2.69%, up to 75% LTV with an £800 fee;
  • Three year fixed rate fees assisted mortgage cut to 2.49% from 2.64%, up to 65% LTV with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages;
  • New five year fixed rate mortgage at 2.64%, up to 65% LTV with an £800 fee;
  • Two year BRT mortgage cut to 2.20% from 2.69%, up to 85% LTV with an £800 fee;
  • Two year BRT fees assisted mortgage cut to 2.55% from 2.99%, up to 85% LTV with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages;
  • New two year BRT at 2.25%, up to 80% LTV with no fee and free standard valuation up to £560 and fees assisted legal services for standard remortgages.

"Our award-winning Welcome Mortgage is among the deals we've refreshed for the start of 2015, with reductions of up to 0.48% on already competitive rates, with the choice for borrowers to pay 0% for either three or six months at the start of their mortgage," said Martin Richardson, Leeds Building Society's General Manager – Business Development.

"As part of the changes we're making to start 2015, we've also reviewed our Buy to Let deals, with new products, rate cuts and different fee combinations with free valuations and fees assisted legal services to offer borrowers as much choice as possible in the package which best suits their needs."

In addition to the product range revamp, the Society is removing the £199 booking fee from across its entire mortgage range for a limited time. It also has increased the benefit of the free valuation offered as part of its fees assisted deals from £335 to £560, which will cover properties worth up to £500,000 (previously £200,000).

Ends

Notes to Editors

Leeds Building Society has won four awards for innovation this year, including being 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 scooped the 'Mortgage Innovation Award' and was named 'Most Innovative Personal Finance Provider' at the Moneynet Personal Finance Awards 2014, and also received the 'Innovation Award (Lenders)' at the Mortgage Finance Gazette Awards 2015, in addition to being named 'Best Intermediary Lender' for the second consecutive year and receiving the award for 'Best Use of Technology (Lenders)'.

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.