Leeds Building Society reduces rates on fixed rate mortgages

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Leeds Building Society reduces rates on fixed rate mortgages

Thu 7th Jul 2011

Individuals struggling to find a suitable mortgage deal for their financial needs could benefit from a recent announcement from Leeds Building Society.

The lender has today (July 7th) announced plans for further reductions to rates on its two and three-year fixed rate products, which offer up to 80 per cent loan-to-value.

Customers looking for a two-year deal are now able to take advantage of a reduced rate of 0.3 per cent and 0.4 per cent across three-year mortgages.

In addition, the building society revealed there will be no higher lending charge, as well as free valuations and legal fees for re-mortgages.

Kim Rebecchi, the company's sales and marketing director, said: "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."

Last year, Leeds Building Society attracted 52,000 new members and reported profits of £84.5 million, which indicated a five per cent increase on the previous 12 months.

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