Leeds cuts Welcome mortgage rates

Leeds Building Society has slashed rates across its Welcome Mortgage range, including cuts of up to 0.34 per cent.

A two-year fixed deal available up to 80 per cent loan-to-value has been reduced from 3.39 per cent to 3.05, while the 85 per cent LTV option is down from 4.07 per cent to 3.74.

An 80 per cent LTV, five-year mortgage has been cut by 11 basis points to 4.12 per cent, while the 85 per cent LTV option is now priced at 4.23 per cent – a reduction of 22 basis points.

There is no completion fee on any of the Welcome Mortgage range of products and a free standard valuation is offered up to £335. An application fee of £199 is attached to all products.

Leeds Building Society general manager of business development Martin Richardson says: “These offers deliver certainty at an affordable rate and are excellent options for purchasers. Clients can choose a 0 per cent interest rate period and pay capital only, reducing their outgoings immediately.

“They then pay a fixed monthly payment for the remainder of the product period, creating flexibility and certainty at the same time.”