Leeds Building Society has reduced the rate on its two-year fixed rate mortgage by 26bps to 2.14%.
The lender has also increased the maximum LTV for the product from 65% to 75% LTV.
There is no higher lending charge and 10% capital repayments are allowed each year without penalty.
Other details include:
- £199 Booking Fee
- £800 Completion Fee up to £500,000, 1.00% over £500,000
- 10% capital repayments are allowed each year without penalty
- Tapered early repayment charges of 3% of the amount redeemed in year 1 and 2% in year 2
- Interest is calculated on a daily basis
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.”