Mortgage Rates Cut By Leeds Building Society

Leeds Building Society has cut the interest rate on its 2 year fixed rate mortgage for up to 80% LTV.

The 2 year fixed rate mortgage has been cut by 0.5% to 3.14% for a mortgage up to 80% LTV. If you don’t have a 20% deposit and need a higher LTV, Leeds offer this mortgage product with up to 85% LTV at a rate of 4.05%.

These rates include a 0.24% discount for taking out the Society’s Homecover insurance. If this home insurance cover is not taken out the discount does not apply.

There is no higher lending charge and up to 10% capital repayments can be made each year without incurring early redemption penalties.

As Kim Rebecchi, Sales & Marketing Director comments: “”This is a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments.

“This product delivers customers with the peace of mind and security that their monthly payments will remain the same for two years.”

MoneyHighStreet comments: “Another opportunity to fix your mortgage for a period of time that is worth considering, particularly at a time when experts are advising customers to snap up fixed rate mortgages – and perhaps rightly so as just a 0.5% increase in the Bank of England base rate could add £500 a year onto mortgage payments.”