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Leeds cuts cost of borrowing and launches 2-year deal with 0% initial rate

30th July 2013 Print

Leeds Building Society has reduced the rates on its 2, 3 and 5 year fixed rate mortgages by up to 0.37%.

Furthermore, following demand from the intermediary market, the Society has added a 2-year ‘Welcome Mortgage' offering customers the option of paying 0% for the first 3 months, with the remaining payments at a fixed rate. This further innovation follows the launch of the 3 and 5 Welcome Mortgages, which have also been reduced.
The total cost of the Welcome products is comparable with the standard fixed rate mortgages offered by the Society. There is no completion fee, a free standard valuation is available up to £335 and 10% capital repayments are allowed each year without penalty.
Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "We launched our 3 and 5-year Welcome Mortgages earlier this month and the feedback we have received has been very positive. Our intermediary partners also wanted a 2-year version, and this is exactly what we have delivered, whilst ensuring that the cost is broadly the same as our standard 2-year fixed.
"I am delighted that we have been able to reduce the cost of our 2, 3 and 5-year Welcome Mortgages and our standard 2, 3 and 5-year fixed rate range by up to 0.37%. All these products deliver certainty at an affordable rate and are excellent options for purchasers."
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