Leek United reduces mortgage rates

Leek United reduces mortgage rates

Leek United Building Society has reduced rates across its residential mortgage range today (6 July).

The changes come as six new products were added to the society's mortgage range.

Clare Beardmore, head of mortgage sales at Leek United, said with the reduction of rates and removal of fees on several mortgages there are “great offers” to be had.  

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Included in the new additions are a two-year 60 per cent loan-to-value (LTV) residential mortgage at 1.24 per cent, a two-year 75 per cent LTV residential mortgage at 1.34 per cent with no application fee and a two-year 75 per cent LTV interest-only mortgage reduced by 0.5 per cent to a new rate of 1.49 per cent.

A Leek United spokesperson said the changes are about offering customers more flexibility, choice and control with no early repayment charges on the new additions to the residential range.  

The building society, which advertises itself as “the friendlier face of finance”, has withdrawn 11 products as part of the changes and recently increased its offer period to six months.

Danny Belton, head of lender relationships at Legal and General Mortgage Club, said the changes are promising.

He said: “These new competitive rates from Leek United show that regional building societies can offer good product options for the right customers.”

Leek United offer an online service which a spokesperson for the society said makes it “even quicker and easier” to get a decision in principle, with a same-day response to a submission received before 2pm.