New 2 Year Discount Mortgage From Leeds Building Society

Leeds Building Society has a new 2 year discount mortgage at a market leading rate of 2.45%.

The new discount mortgage is available up to 75% LTV at a rate of 2.45% and at a rate of 2.75% for up to 80% LTV.

There is  a £199 booking fee and for loans up to £500,000 the completion fee is £800 and for loans over £500,000 this fee is 1% of the loan. There is no higher lending charge.

Captial repayments of up to 10% are allowed each year without incurring an early repayment charge.

For those looking for a fees assisted mortgage to help with upfront costs, there is a 2 year fees assisted discount mortgage available at up to 80% LTV at a rate of 3.2% or up to 75% at an interest rate of 2.8%. This includes free standard valuation up to £335 and free in-house legal service for standard remortgages.

MoneyHighStreet comments: “A discount mortgage is an attractive option for many.

“Be sure though to research all the options available to you. For example with savings account interest rates as low as they currently are, many are turning to an offset mortgage – with these interest is paid on savings at the same rate paid on the mortgage and interest earned on savings is offset against the mortgage payments.”