Mortgages  

Leeds low-rate mortgage deal

Leeds low-rate mortgage deal

For a limited period Leeds Building Society has launched the lowest fixed-rate mortgage in its 140-year history.

Key features

The two-year fixed-rate mortgage of 1.45% will be available until Friday 16 October.

It is only available for house purchases.

Available at up to 60 per cent loan-to-value, it comes with a free standard evaluation of up to £560.

The fee is £999, and 10% penalty-free capital repayments are allowed each year.

Martin Richardson, Leeds Building Society’s Director of Business Development said: “The offer allows customers to guarantee low payments for two years, and benefit from the peace of mind this delivers. We are confident that certainty at an affordable rate will be very popular.”

Adviser verdict

David Storey, IFA at Tyne and Wear-based Mint Wealth Management, said: “The Leeds offer is a good deal. It’s very competitive to those who have a high deposit to put down and a low borrowing requirement.

“Better still is the fact that the valuation fees are paid for as well. It’s good that it is fixed for two years – it is sufficiently low to be worthwhile, and offers a sensible term.

“We are being threatened with higher interest rates which haven’t transpired, and with the recent market uncertainty and unsettled conditions, interest rates may not go up any time soon. This deal offers suitable protection for a period when anything can happen to interest rates.”