Back to January 2015

Market-leading new discount mortgages launched by Leeds Building Society

Leeds Building Society has improved its range of competitive discount mortgages with market-leading new products and rate cuts of up to 0.75% on existing deals.

Highlights of the newly-launched discount mortgages include:

  • 1.60% two year discount mortgage, available up to 65% LTV (loan to value), with an £800 fee;
  • Market-leading 2.55% two year discount mortgage, available up to 90% LTV, with an £500 fee;
  • Market-leading 3.55% two year discount mortgage, available up to 95% LTV, with an £500 fee;
  • Market-leading 1.94% two year discount fees assisted mortgage, available up to 65% LTV, with no fee, and free standard valuation up to £560 and fees assisted legal services for standard remortgages.

The Society also offers a market-leading two year discount fees assisted mortgage at 3.99%, available up to 95%, with a £500 fee. This also comes with a free standard valuation up to £560 and fees assisted legal services for standard remortgages.

“While many borrowers are choosing fixed rate deals, the expectation that the Base Rate will stay at its historic low for some while longer might encourage more people to consider a variable rate mortgage,” said Martin Richardson, Leeds Building Society’s General Manager – Business Development.

“These latest deals are extremely competitive, with some market-leading products at higher LTVs, and a choice of fee combinations. In particular, I’d expect the low or no fee options to be attractive to homeowners looking minimise the costs of remortgaging to a better deal to bring down their monthly payments while rates remain low.”

Ends

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 won four awards for innovation in the past 12 months, 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.