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Leeds BS targets remortgage market with fixed-rate products

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  • 27/03/2017
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Leeds BS targets remortgage market with fixed-rate products
Leeds Building Society has added a pair of two and five-year deals to its range of fixed-rate mortgages.

The two-year mortgages at 80% and 85% loan-to-value (LTV) include £750 cashback, a £199 fee, free valuation and fees-assisted legal services for standard remortgages.

Meanwhile, the five-year fixed products are portable and include tapered early repayment charges.

Leeds Building Society’s director of product and distribution Jaedon Green said the products were aimed at homeowners who had built up more equity in their property and may want to remortgage to a better rate.

“The fees assisted two year products have extra incentives which reduce the costs of switching,” he said.

“Fixed-rate mortgages remain the preference for most borrowers, to give security over their monthly repayments. While two-year fixes remain very popular, a five-year deal is worth considering when rates are so low, to lock in to a beneficial rate with that extra security.”

Last month the mutual announced it had increased lending by 28% in 2016 to £4bn.

 

The two-year products with a £199 fee and £750 cashback are:

2.20% fees assisted two-year fixed rate up to 80% LTV with £750 cashback

2.40% fees assisted two-year fixed rate up to 85% LTV with £750 cashback

The five-year products with a £999 fee and tapered ERCs are:

2.10% five-year fixed rate up to 80% LTV

2.20% five-year fixed rate up to 85% LTV

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