Leeds BS cuts ten-year fix to 2.55%

Leeds Building Society has cut the rate on its 65% LTV ten-year fixed rate mortgage to 2.55%, as well as launching a new ten-year fix at 2.75% with tapered ERCs for the first five years and no ERCs for the remainder of the term.

Related topics:  Mortgages
Rozi Jones
3rd October 2016
Leeds Building Society
"This deal is a good compromise - being able to redeem without penalty after five years gives these borrowers the security of a 10 year fix"

Jaedon Green, Leeds Building Society’s Director of Product and Distribution, said: “We’ve had feedback from lots of customers looking for long term stability but reluctant to tie in for a full 10 year period so they choose a five year deal instead.

“This deal is a good compromise - being able to redeem without penalty after five years gives these borrowers the security of a 10 year fix if they want to stick with it, but the flexibility to switch or pay off their mortgage after five years if they wish.

“The potential cost of remortgaging is something borrowers don’t always take into account, which is another reason why longer term deals will suit some people.”

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