Leeds Building Society is set to relaunch its mortgage range by cutting rates by up to 0.49 per cent and introducing new fixed rate and tracker residential products, with effect from tomorrow (31 December).
Highlights include a three-year fixed rate mortgage cut to 2.39 per cent from 2.69 per cent, up to 75 per cent loan-to-value with an £800 fee.
The three-year fixed rate fees-assisted mortgage is also being cut to 2.49 per cent from 2.64 per cent, available up to 65 per cent LTV, with a free standard valuation up to £560 and fees assisted legal services for standard remortgages.
There will also be a new five-year fixed rate mortgage at 2.64 per cent, up to 65 per cent LTV with an £800 fee, and a two-year base rate tracker mortgage cut to 2.20 per cent from 2.69 per cent, up to 85 per cent LTV, with an £800 fee.
The two-year base rate tracker fees-assisted mortgage has been cut to 2.55 per cent from 2.99 per cent, up to 85 per cent LTV with free standard valuation up to £560 and fees-assisted legal services for standard remortgages.
Finally, a new two-year base rate tracker comes in at 2.25 per cent, up to 80 per cent LTV, with no fee and free standard valuation up to £560, plus fees assisted legal services for standard remortgages.
Martin Richardson, general manager for business development at Leeds Building Society, said that as part of the changes, the lender has also reviewed its buy-to-let deals with new products, rate cuts and different fee combinations with free valuations and fees assisted legal services.
“In addition to the product range revamp, the society is removing the £199 booking fee from across its entire mortgage range for a limited time.
“It also has increased the benefit of the free valuation offered as part of its fees assisted deals from £335 to £560, which will cover properties worth up to £500,000 (previously £200,000).”