Leeds BS launches ‘Flexit’ mortgages

Michael Lloyd

December 23, 2019

Leeds Building Society has launched two fixed rate mortgages with no early repayment charges (ERCs) or limits on overpayments.

The ‘Flexit’ products, which the society said provide borrowers with increased flexibility, are available up to 75% LTV and have £999 fees.

There is a 2-year fixed rate mortgage priced at 1.71% which comes with a free valuation and fees assisted legal services for standard remortgages.

There is also a 5-year fix at 1.97% which comes with a free standard valuation.

Matt Bartle, director of products at Leeds Building Society, said: “Our new 2 and 5-year Flexit fixed rate mortgages provide borrowers with increased flexibility as they have no early repayment charges and the option to make unlimited overpayments, which are usually capped at 10% capital repayments per year.

“We know there is demand for these products following the insight and feedback we’ve gathered from borrowers and our broker partners.

“Ongoing economic uncertainty is likely to mean borrowers will be seeking flexibility and these products enable them to keep their options open should their circumstances change.

“Increased flexibility is particularly important for those looking to secure their monthly payments, while retaining the ability to make significant overpayments.”

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