Leeds cuts rate on two year fixed rate mortgage

Leeds Building Society has reduced the rate on its two year fixed rate mortgage by 0.3 per cent to a new rate of 3.49 per cent.

Furthermore, the product is available up to 75 per cent loan-to-value and there is no higher lending charge and 10 per cent capital repayments are allowed each year without penalty. The rate is available to and including 30 September 2014.

Phil Coombes, head of intermediary sales at Leeds Building Society, said: “We are delighted to be able to cut the rate on this mortgage from 3.79 per cent to 3.49 per cent. This is an excellent offer that allows clients to guarantee low payments for two years and benefit from the peace of mind this delivers.

“Many borrowers want to control their outgoings, and we know that certainty at an affordable rate will be popular. This is a strictly limited tranche and I would urge people to act quickly to avoid disappointment.”