Back to October 2019

Leeds continues first time buyer support with 90% LTV rate reduction

Leeds Building Society is continuing to support first time buyers by reducing its five year fixed rate 90% LTV (loan to value) mortgage by 0.20%.

The £999 fee 2.34% five year fixed rate mortgage, which will launch on Friday, 11 October, comes with a free standard valuation.

Matt Bartle, Director of Products at Leeds Building Society, said: “We’re constantly refining and enhancing our mortgage products and know that borrowers are increasingly favouring longer term fixed products.

“Current economic and political conditions are leading more people to look at longer term deals to safeguard themselves from potential rate rises in the near future.

“We believe the reduction to our five year rate will meet the needs of those who are often under served by the wider market, particularly those with smaller deposits, so it’s ideally suited to people looking to take the first step onto the property ladder.

“It complements our wider affordable housing offering, which includes Help to Buy and Shared Ownership mortgages, alongside higher-LTV traditional mortgages.”

Ends

Notes to Editors

Key Features

2.34% 5 Year Fixed Rate up to and including 31 December 2024

  • £999 fee
  • Free standard valuation up to £999
  • 10% penalty free capital over-repayments permitted each year
  • Tapered early repayment charges: 5 Year 5/5/4/3/2% until 31 December 2024
  • Available for purchases and remortgage applications

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 won the title of Best Shared Ownership Mortgage Lender in the 2019 What Mortgage Awards, its fourth consecutive year of success in this category. It also was named Best Lender for Later Life Lending in the Legal & General Mortgage Club Awards 2019.

The Society operates throughout the UK and had assets of £20.7bn at 30 June 2019 (£19.4bn at 30 June 2018). The UK’s fifth-largest mutual is a Best Companies 2* employer and its head office is in the centre of Leeds, where it has been based since 1886.