Leeds cuts rates on 2 and 3 year fixed rate mortgage range

Following the recent improvements to its 5 year fixed rate mortgage range, Leeds Building Society has announced further reductions on 2 and 3 year fixed rate products.

Rates have been reduced by up to 0.3% on the 2 year deals, and by 0.4% across 3 year fixed rates.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "We have received feedback that customers are looking to lock in value and this, combined with the movement in market rates, means that we have been able to reduce rates on our 2 and 3 year range. In this historically low interest rate environment, where the only way is up in terms of interest rates, customers are looking for security, peace of mind and longer term value."

The 3 year fixed rates have all been reduced by 0.4%. A 3-year fixed rate of 3.75% is available up to 75% LTV, at 4.05% up to 80% LTV and at 4.35% up to 85% LTV.

The Society has also cut 2 Year fixed rates, available up to 75% LTV and 85% LTV, by 0.3% to new rates of 3.40% and 4.05% respectively. The version available up to 80% LTV has been reduced from 3.79% to 3.64%.

Furthermore, all these offers have no higher lending charge and 10% capital repayments are allowed each year without penalty. The Society has also launched fees assisted versions of these products, with free valuations and legal services for standard re-mortgages.

Kim Rebecchi added, "Many customers will welcome the ability to budget and limit their monthly outgoings, particularly those mortgage customers who may be coming to the end of their current deal.

"We have also launched fees assisted versions of these products, for those who require help with up front costs. These new products are available throughout our branch network, where we have fully qualified mortgage advisers to discuss individual customer needs, internet and phone."