Leek United has reduced the rate of its 2-year fixed rate residential mortgage at 90% loan-to-value (LTV).
The rate has been cut from 2.34% to 2.00%. There are no application fees and it comes with a free valuation.
John Kelly, operations director at Leek Building Society, said: “We’re delighted to appear in the Moneyfacts Best Buy tables and it’s very satisfying to be acknowledged as a leading provider of competitive mortgages.
“Fixed rates remain a popular choice for customers as they provide peace of mind and make it easier for them to plan their outgoings.
“This along with a low rate of just 2.00%, a 90% LTV and no valuation fee, means the new 2-year fixed rate mortgage will be very popular with brokers so they can help more of their customers.
“We have lowered rates on a number of other products as we continue to be responsive to the market and provide mortgages that are suitable for a wide range of customer requirements.”
Rachel Springall, finance expert at Moneyfacts, added: “Leek United Building Society has made a sizeable reduction to its two-year fixed rate mortgage of 0.34%.
“Now priced at 2.00%, the deal includes a cost-saving incentive package of free valuation and does not charge a product fee.
“Those borrowers with the required 10% deposit and are looking to keep their upfront costs down may find this deal appealing. As a result, this mortgage product has been included in the Moneyfacts Best Buys.”