Leeds launches lock-in free two-year fix

Leeds is claiming to have launched the only two-year fixed rate mortgage in the market with no lock-ins.

The new range of products, which includes the two-year fix, has rates starting from 5.95%, with up to 90% LTV and include two and three-year fixed rate residential mortgages, two and three-year fixed rate buy-to-let mortgages and an offset lifetime tracker.

None of the products have a higher lending charge and the three-year fixed rates are fee free, with free in-house legal services for remortgages and a free valuation up to £335.

Kim Rebecchi, director of sales at Leeds, says: “These new mortgage deals complement our existing range superbly and ensure that we have a mortgage product to suit any individual’s circumstances. There are currently many reports in the media saying the best mortgage deals are only available to those with large deposits, however we are offering very competitive deals to those with only a 10% deposit.

“We recognise that many people are struggling in the current financial climate with large increases in the cost of living. Many borrowers like the ability to budget through fixed monthly payments. Our fixed rate mortgage range will minimise the payment shock for a sizeable proportion of borrowers and reduce monthly outgoings for many more. This will provide peace of mind at an affordable rate.”