Back to October 2016

Long term flexibility with Leeds 10 year mortgage

Borrowers seeking the security of a long term fixed rate mortgage have more choice with a new flexible 10 year deal from Leeds Building Society.

The Society has launched a new 10 year fixed rate mortgage at 2.75%, with no ERCs (Early Redemption Charges) after five years.

The deal is available up to 65% LTV (Loan to Value) and has tapered ERCs for the first five years.

“We’ve had feedback from lots of customers looking for long term stability but reluctant to tie in for a full 10 year period so they choose a five year deal instead,” said Jaedon Green, Leeds Building Society’s Director of Product and Distribution.

“This deal is a good compromise - being able to redeem without penalty after five years gives these borrowers the security of a 10 year fix if they want to stick with it, but the flexibility to switch or pay off their mortgage after five years if they wish.

“The potential cost of remortgaging is something borrowers don’t always take into account, which is another reason why longer term deals will suit some people.”

The Society has also cut the rate on its conventional 10 year fixed rate mortgage to 2.55% and reduced the fee to £999. This is available up to 65% LTV.

All Society fixed rate mortgages are portable, subject to the borrower meeting affordability requirements at the time of porting.

Ends

Notes to Editors

10 Year Flexible Fixed Rate mortgage at 2.75% up to and including 31st January 2027:

  • 10 Year Flexible Fixed Rate mortgage at 75% up to and including 31st January 2027
  • Available up to 65% LTV
  • No ERCs after five years
  • Tapered ERCs (5/5/4/3/2%) for first five years
  • £999 completion fee
  • Portable

 

For further information please contact:

Julie Hemmings

PR Manager

Telephone: 0113 225 7903 

Out of Hours: 07769 675330

Email: jhemmings@leedsbuildingsociety.co.uk

 

10 Year Fixed Rate mortgage at 2.55% up to and including 31st January 2027:

  • 10 Year Fixed Rate mortgage at 55% up to and including 31st January 2027
  • Available up to 65% LTV
  • Tapered ERCs (6/6/5/5/5/5/4/4/3/2%)
  • £999 completion fee
  • Portable

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 Development contact. 

Leeds Building Society won the awards for Best Building Society Savings Provider and Innovation in Personal Finance (Part and part mortgages) at the 2016 Moneyfacts Awards.

The Society received the ‘Innovation Award (Lenders)’ at the Mortgage Finance Gazette Awards 2016, the third consecutive year it has won this category, as well as the award for ‘Product Innovation (Lenders)’.

The Society also has been named ‘Best Regular Savings Account Provider’ for the second consecutive year by independent consumer advice website Savings Champion.

Leeds Building Society has 65 branches throughout the UK, Gibraltar and Ireland and assets of £14.9bn (at 30th June 2016). The Society has operated from the centre of Leeds since 1886.