The Society’s ‘Welcome’ range was launched in summer 2013, offering purchasers a combination of flexibility and certainty over a 2, 3 or 5-year term. Furthermore, to complement this range last autumn the mutual introduced a £200 cashback incentive on its 2, 3 and 5 year fixed rate ‘Welcome Mortgages.’
To enhance the range further, the Society’s 2 Year Fixed Rate available up to 80% LTV has been reduced by 0.34% from 3.39% to 3.05%, with the 2 Year version up to 85% LTV being lowered from 4.07% to 3.74%. Leeds has cut the 5 year fixed rates by 0.11% to 4.12% up to 80% LTV and by 0.22% to 4.23% up to 85% LTV.
The total cost of the Welcome products is comparable with the standard fixed rate mortgages offered by the Society. There is no completion fee, a free standard valuation is available up to £335 and 10% capital repayments are allowed each year without penalty.
Martin Richardson, Leeds Building Society’s General Manager – Business Development said:
“I am very pleased that we are able to reduce the rates on our 2-year Welcome Mortgage, available up to 80% LTV, from 3.39% to 3.05% and from 4.07% to 3.74% up to 85% LTV. We have also lowered rates by up to 0.22% on the 5 year products.
“These offers deliver certainty at an affordable rate and are excellent options for purchasers. Clients can choose a 0% interest rate period and pay capital only. This reduces their outgoings immediately. They then pay a fixed monthly payment for the remainder of the product period at a competitive and affordable rate, creating flexibility and certainty at the same time.
“Our offering had previously been enhanced further by adding £200 cashback to the range. The 2, 3 and 5 year products deliver certainty at an affordable rate and are excellent options for purchasers.”
