Leeds reduces rates on 2 and 3 year fixed rates

Leeds Building Society has announced significant reductions on its 2 and 3 year fixed rate mortgage products.

Rates have been reduced by up to 0.91% on the 2 year deals, and by up to 0.56% on 3 year fixed rates.

On the 2 year range, the Society now offers a great rate of only 3.50% (previously 4.05%) for those with just a 15% deposit. The tier available up to 80% LTV is a market leading 3.14%. To compliment this, new tiers have been launched at just 2.45% available up to 60% LTV and 2.75% available up to 75% LTV.

The Society has also reduced the rates on the fees assisted versions of these 2 year products, with free valuations and legal services for standard re-mortgages. The deal available up to 75% LTV has been reduced by 0.91% to 2.99%, combined with lower rates on the higher LTV offers.

Kim Rebecchi, Leeds Building Society's Sales and Marketing Director said, "We are delighted to have reduced rates on our 2 and 3 year range. In this historically low interest rate environment, customers are looking for security, peace of mind and longer term value."

The 3 year fixed rates have also been reduced. A 3-year fixed rate at a market leading 2.94% is now available up to 75% LTV, at a market leading 3.49% up to 80% LTV and at 3.79% up to 85% LTV.

Furthermore, all the 2 and 3 year 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 the 3 year products, also with reduced headline rates.

Kim Rebecchi added, "We are announcing significant reductions in headline rates, across the 2 and 3 year range, and we now have a number of market leading products within these tiers. These great rates apply across a variety of different LTV bands, and we are also offering very competitive fees assisted products for those who require help with up front costs."