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By Bruce Tang | Published Aug 22, 2012

Leeds cuts rate on two-year fixed mortgages

Leeds Building Society has cut the rate on its two-year fixed rate mortgage by 0.2 per cent across both its up to 75 loan-to-value and up to 80 per cent LTV offerings, and by 0.14 per cent on its up to 85 per cent LTV.

The 75 per cent LTV loan is now available at a reduced rate of 2.95 per cent, while the 80 per cent LTV mortgage will now be available at 3.29 per cent. The company also reduced it’s rate from 3.89 per cent to 3.75 per cent on its 81 per cent to 85 per cent LTV mortgage.

A £199 booking fee is needed for the three variations of the product as well as an £800 completion fee up to £500,000. Additional fees over £500,000 are set to 1 per cent.

The rates also include 10 per cent capital repayment which are allowed without penalty each year.

Tapered early repayment charges of 3 per cent of the amount is redeemed in the first yea,r with 2 per cent in the second year.

The rate also includes a 0.24 per cent discount for taking the Society’s Homecover insurance required until the 30th of November 2014, provided that home cover is taken by borrowers.

Two weeks ago (8th August), HBSC similarly lowered their five-year fixed rate mortgage to 2.99 per cent.

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