Quantcast
Menu

First-time Buyers

New two-year fix from Leeds

Adam Williams
Written By:
Adam Williams
Posted:
Updated:
04/02/2015

Leeds Building Society has launched a new two-year fixed rate product, targeting borrowers who do not want to be tied into a long-term deal.

The Yorkshire mutual is offering the product at a rate of 1.74%, available up to 65% loan-to-value. Fees of £800 apply.

Leeds will offer free standard valuation and fees assisted legal services for those remortgaging to the product.

Business development general manager Martin Richardson said this length of fix would give borrowers confidence in the short-term without committing to a longer deal.

“Two-year fixed rate mortgages remain extremely popular with borrowers as they offer a degree of certainty about their monthly repayments in the short term,” he said.

“The current low interest rate environment is expected to be with us for perhaps 12 more months at least, which makes fixing your mortgage attractive while deals are so competitive.

“However, uncertainty ahead of the forthcoming general election – combined with financial and political instability elsewhere, particularly in Europe – may be making borrowers choose shorter-term fixes as they’re less willing to commit too far ahead into the future.”


Share: