Mortgages  

Leeds BS cuts two and five year fixed rates

Leeds Building Society is cutting rates on its range of two and five year fixed-rate mortgages at 75 per cent and 80 per cent loan-to-value.

From tomorrow (6 November) the society will reduce its 5-year fixed rate mortgages from 3.09 per cent to 2.89 per cent up to 75 per cent LTV, and from 3.34 per cent per cent to 2.99 per cent up to 80 per cent LTV.

It will also offer a fee assisted 5-year fixed rate deal up to 80 per cent LTV, reduced from 3.44 per cent to 3.09 per cent, with a free standard valuation up to £335 and fees assisted legal services for standard remortgages.

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LBS will lower rates on its 2-year fixed rate mortgages from 2.39 per cent to 2.24 per cent up to 75 per cent LTV, and from 2.59 per cent to 2.39 per cent up to 80 per cent LTV.

It will is also offering a fee assisted 2-year fixed rate deal up to 80 per cent LTV, reduced from 2.69 per cent to 2.44 per cent, again with a free standard valuation up to £335 and fees assisted legal services for standard remortgages.

Martin Richardson, Leeds’ general manager for business development, stated: “We’ve reduced rates where we’ve been able to and expect these deals to appeal both to remortgagors, who have more equity in their property, and homebuyers with a larger deposit to put down.”

peter.walker@ft.com