Mortgages  

Leeds launches longer term fixed rates

Leeds launches longer term fixed rates

Leeds Building Society has introduced a range of three and five-year fixed rate mortgages.

“Longer term fixed rate deals are still popular and we are seeing strong demand for remortgages while rates are at their current levels,” director of business development Martin Richardson said.

“By remortgaging to a more competitive deal, homeowners can bring down their repayments and lock-in to give them the security of fixing what’s usually their biggest monthly outgoing.”

The offerings include fees assisted three and five-year deals with a free standard valuation and fees assisted legal services, as well as a low £199 fee.

Mr Richardson said: “If repayments are lower they have the choice to overpay by up to 10 per cent and bring down the total length of their mortgage term, which could mean a significant saving overall.”

The new range includes a 2.39 per cent three-year fixed rate fees assisted mortgage available up to 80 per cent LTV, a 2.59 per cent three-year fixed rate fees assisted mortgage available up to 85 per cent LTV and 2.6 per cent five-year fixed rate fees assisted mortgage available up to 65 per cent LTV.

A 2.65 per cent five-year fixed rate fees assisted mortgage available up to 75 per cent LTV and a 2.74 per cent five-year fixed rate fees assisted mortgage is also available up to 80 per cent LTV.

Daniel Bailey, mortgage broker at Derbyshire-based Middleton Finance, said: “The rates are competitive. I have certainly seen an appetite from my clients favouring a five-year fixed rate mortgage because rates are so good and it gives them the opportunity to secure a good rate for a five-year period.

“Any fee assisted deal, such as a free valuation and legal advice, is good and important.”