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New deals from Leeds Building Society

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20/01/2016
The building society has responded to demand for longer term deals with a new range of three- and five-year fixed rates
New deals from Leeds Building Society

Leeds Building Society has launched a new range of fixed rate mortgages in response to remortgaging demand for longer term deals.

The new deals include three- and five-year deals with a free standard valuation and fees assisted legal services, as well as a low £199 fee. They are available to borrowers with large deposits of 20% of the property’s value and over.

Highlights of the range include:

  • 2.39% three-year fixed rate mortgage available up to 80% of the property’s value
  • 2.59% three-year fixed rate mortgage available up to 85% of the property’s value
  • 2.60% five-year fixed rate available up to 65% of the property’s value
  • 2.65% five-year fixed rate available up to 75% of the property’s value
  • 2.74% five-year fixed rate available up to 80% of the property’s value.

Martin Richardson, Leeds Building Society’s director of business development, said that borrowers are looking to lock into a low rate. “Longer term fixed rate deals are still popular and we’re seeing strong demand for remortgages while rates are at their current levels.

“By remortgaging to a more competitive deal, homeowners can bring down their repayments and lock in to give them the security of fixing what’s usually their biggest monthly outgoing.

“If repayments are lower they have the choice to overpay by up to 10% and bring down the total length of their mortgage term, which could mean a significant saving overall.”

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