Leeds cuts rates again

The move follows cuts to Leeds’ 5-year fixed rate mortgage range last week.

Kim Rebecchi, Leeds’ sales and marketing director, said: "We have received feedback that customers are looking to lock in value and this, combined with the movement in market rates, means that we have been able to reduce rates on our 2-year and 3-year range.

“In this historically low interest rate environment, where the only way is up in terms of interest rates, customers are looking for security, peace of mind and longer term value."

A 3-year fixed rate of 3.75% is available up to 75% loan to value, at 4.05% up to 80% LTV and at 4.35% up to 85% LTV.

Leeds’ 2-year fixed rates are available up to 75% LTV and 85% LTV at new rates of 3.40% and 4.05% respectively. The version available up to 80% LTV has been reduced from 3.79% to 3.64%.

All affected products have no higher lending charge and 10% capital repayments are allowed each year without penalty.

Leeds has also launched fees assisted versions of these products, with free valuations and legal services for standard re-mortgages.

Rebecchi added: "Many customers will welcome the ability to budget and limit their monthly outgoings, particularly those mortgage customers who may be coming to the end of their current deal.

"We have also launched fees assisted versions of these products, for those who require help with up-front costs. These new products are available throughout our branch network, where we have fully qualified mortgage advisers to discuss individual customer needs, internet and phone."