Leeds Building Society launches New Year mortgage sale

Leeds Building Society has launched a new mortgage range for the New Year, which reduces the prices on the majority of its current mortgages.

The suite includes fixed rate, offset, discount, buy to let and first time buyer mortgages, which have been designed to offer customers a competitive option to suit their individual needs.

Karen Wint, General Manager Marketing & Customer Services said, "This new suite of mortgages provides both customers looking to remortgage and first time buyers alike with peace of mind and flexibility, at competitive rates starting at just 4.75% for 3 years. The range is available throughout our 69 branches, via our telephone advice unit and over the Internet.

"Clearly, the ‘credit crunch' has resulted in a number of UK banks looking for Government support but as a building society, with a very different business model to that of banks, it is business as usual for us."

Leeds Building Society has funded all of its mortgages over the last three years from its members' savings and, as a result, the Society is much less exposed to the liquidity issues in the market than many banks and other financial organisations. This has allowed it to continue to offer a full range of competitive mortgages.

Karen continued, "First time buyers should benefit from the drop in house prices and this should make finding a deposit easier. At Leeds Building Society we lend 90% of the borrower's share on shared ownership and shared equity properties, and 85% on other mortgage products. They can call into their local high street branch and discuss their needs with a fully qualified mortgage adviser to ensure that they get the right mortgage for them.

"We also provide guarantor mortgages. This is an excellent way for parents to support their children without giving them any savings or equity. One of the barriers to buying a home is affordability and first time buyers may not be able to currently afford the mortgage on their existing income. Parents can act as a guarantor. This enables the children to purchase the property they want and when their income increases, perhaps after achieving promotion or a professional qualification, the parent can be removed as a guarantor."

"Customer circumstances vary and we have a mortgage available to suit their individual needs. These include fixed rate mortgages, discounted and offset mortgages. Any fees can be added to the mortgage and fee free and fees assisted mortgages are also available for customers who prefer help with up front costs.

"The New Year is a great time to sort out your finances and it's mortgage sale time at Leeds Building Society. I would urge customers to act quickly to secure a great deal."

For more information, visit leedsbuildingsociety.co.uk