Leeds launches 2 and 5-year fixes

Sarah Davidson

January 12, 2015

Highlights include a 1.84% 2-year fix to 65% LTV and a 3.59% 5-year fix to 85% LTV, both of which will launch from tomorrow.

The 5-year fix will come with no fee, while both products come with a free standard valuation covering properties priced up to £500,000 and fees assisted legal services for standard remortgages.

From the day after tomorrow (14 January) Leeds is also launching a range of 5-year fixed offset mortgages, which will include a product at 2.99% to 75% LTV.

Martin Richardson, Leeds Building Society’s general manager – business development, said: “As the chances of a base rate rise have become less likely, we’ve been seeing greater demand for longer-term fixed rate products and our new 5-year deals are in response to this.

“An increasing number of borrowers are taking advantage of the current low interest rate environment to lock into a competitive deal and enjoy the security of fixing their monthly repayments for the longer-term.

“While the low interest rate environment continues to make conditions challenging for savers, offset mortgages may be an attractive option for making your cash work harder for you and either bring down your monthly repayments or potentially shave years off the term of your mortgage, which could result in significant savings.”

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