The mutual has also increased the maximum LTV for this product from 65% to 75% LTV. Furthermore, there is no higher lending charge and 10% capital repayments are allowed each year without penalty.
Phil Coombes, Leeds Building Society’s Head of Intermediary Sales said:
"We are very pleased to make a rate reduction of 0.26% on our 2 year fixed rate mortgage, to a new rate of only 2.14%. This presents a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments. We have also increased the maximum LTV from 65% to 75%, making this product accessible to more clients.
“This is combined with the flexibility of 10% capital repayments each year at a very affordable rate. Many clients will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage clients who may be coming to the end of their current deal.”
