Leeds reduces rates on 5-year fixed rate mortgage

Leeds Building Society has reduced the rate on its 5-year fixed rate mortgage by 0.3% up to 75% loan to value (LTV) and by 0.24% up to 80% LTV.

The new rates are 4.49% and 4.75% respectively. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "We are pleased to reduce the rate on our 5 year fixed, and provide competitive deals for those borrowers looking to lock into the certainty of low fixed repayments.

"This product combines a guarantee, at a very affordable rate, with the flexibility of 10% capital repayments each year. The other important factor is that it is available up to 80% LTV, making it accessible to more borrowers.

"I would urge those customers coming to the end of an existing deal or looking to move home to visit our branches, where we have fully qualified mortgage advisers available on a no appointment necessary basis."