New fixed rate and tracker products available now
Leeds Building Society has announced a refreshed mortgage product range with new fixed rate and tracker products available from January 3.
The lender’s two-year fixed rate products up to 65% loan-to-value (LTV) are available with an initial fixed rate of 4.74% while two-year fixes up to 90% LTV are available with an initial fixed rate of 5.29%. The rates of these products are followed by a 0.75% discount from SVR (currently 6.49%) up to and including March 31, 2025, then SVR. Early repayment charges are also tapered until that date.
Five-year fixed rates up to 65% LTV are available with an initial fixed rate of 4.39% up to and including March 31, 2028, then SVR (currently 6.49%). Early repayment charges are tapered until that date.
The products mentioned above allow 10% capital overpayments each year.
Meanwhile, two-year Bank of England (BoE) trackers plus 0.60% and plus 0.70% are available up to 65% LTV and 75% LTV respectively, with initial rates of 4.10% and 4.20% up to and including March 31, 2025. These products have no early redemption charges and allow unlimited capital overpayments.
All products in the revamped range have a £999 completion fee, free standard valuation, and fees assisted in-house legal service for remortgages. Full details of the mortgage products reflecting these changes can be found on the lender’s website.
“Money market rates have continued to soften over the past few weeks which is good news for hard-pressed borrowers,” Matt Bartle (pictured), director of products at Leeds Building Society, said. “We continue to see a strong demand from brokers and homeowners alike for competitively priced, shorter-term fixed rate and tracker products.
“By introducing these new products, we are giving homeowners competitively priced deals coupled with added flexibility should the general interest rate environment start to reduce.”
