April 25, 2024
Mortgage

Leeds reveals mortgage rate reductions – Mortgage Finance Gazette


Leeds Building Society is making reductions on products across its mortgage range – from 2 January.

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The changes include:

Hero Products:

Two-year fixed rate – available up to 75% LTV

  • Fixed rate of 4.60% up to and including 31st March 2026
  • Followed by a 0.75% discount from SVR (current rate 7.49%) up to and including 31st March 2029
  • Completion fee of £999
  • Free standard valuation up to £999
  • Fees assisted in-house legal service for remortgages
  • Early redemption charges of 2.5% / 1.5% of the amount redeemed
  • 10% penalty free capital overpayments p.a

Two-year fixed rate – available up to 95% LTV

  • Fixed rate of 5.59% up to and including 31st March 2026
  • Followed by a 0.75% discount from SVR (current rate 7.49%) up to and including 31st March 2029
  • Available for purchase only
  • Completion Fee of £999
  • Free standard valuation up to £999
  • Early redemption charges of 2.5% / 1.5% of the amount redeemed
  • 10% penalty free capital overpayments per annum.

 

Shared ownership five-year fixed rate – available up to 95% borrower share

  • Fixed rate of 5.59% up to and including 31st March 2029
  • No completion fee
  • Free standard valuation
  • Early redemption charges of 5% / 5% / 4% / 3% / 2% of the amount redeemed
  • 10% penalty free capital over repayments allowed each year

Buy-to-let two-year fixed rate – available up to 60% LTV

  • Fixed rate of 5.55% up to and including 31st March 2026
  • Followed by a 1.00% discount from BTL Variable Rate (current rate 7.54%) up to and including 31st March 2029
  • No completion fee
  • Free standard valuation
  • Fees assisted legal service for in-house re-mortgages
  • Early redemption charges of 2.5% / 1.5% of the amount redeemed
  • 10% penalty-free capital over repayments allowed each year

Commenting on the changes Leeds Building Society director of products Matt Bartle said: “In support of our purpose of putting homeownership within reach of more people, we have decided start strong in 2024 by making reductions on rates across our mortgage product range to support more people onto and up the property ladder.

“In 2023 the mortgage market was constrained due to the ongoing pressure of the increasing cost of living, but as a lender we want to play our part to try to overcome the hurdles people face and help more people into homeownership.”



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