Leeds reduces Welcome Mortgage rates

The society’s ‘Welcome’ range was launched in summer 2013 to offer purchasers a combination of flexibility and certainty over a 2, 3 or 5-year term, with some products also offering a cashback.

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 also 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.

There is no completion fee, a free standard valuation is available up to £335 and 10% capital repayments are allowed each year without penalty.

Kim Rebecchi, Leeds Building Society’s sales and marketing director 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. Customers 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.”