Leeds Building Society has added two higher loan-to-value products with a number of two-year discount mortgage deals.
Martin Richardson, Leeds Building Society’s director of business development, said: “While interest rates have remained at historic lows, more borrowers have been prepared to consider a variable rate mortgage and the prospect of any increase in the base rate is still uncertain.”
Both the two-year discount mortgage deals are fees-assisted, with a free standard valuation and a low £199 fee.
The first on offer has an interest rate of 2.39 per cent up to 90 per cent LTV for a two-year period and is available for purchase or remortgage with fees-assisted legal services for standard remortgages.
The second product on offer has a rate of 3.30 per cent up to 95 per cent LTV for two years, but is available for purchase only.
After the end of the two-year term each has a 1 per cent discount for a further three years.
Adviser verdict
Paul Dorward, principal for Sheffield-based PAD Financial, said: “The new variable rates on offer from the Leeds certainly look to be competitive, and will no doubt be a viable option for a lot of buyers with smaller deposits and people looking to remortgage with a smaller amount of equity. In any event, it’s great to see interest rates becoming more competitive as this is ultimately good news for borrowers.”
