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Leeds BS launches discount mortgage range from 1.6%

Leeds Building Society has launched a range of discount mortgage products with rates starting from 1.6 per cent.

That deal is available up to 65 per cent LTV, with £800 fee.

A 90 per cent LTV, two-year discount deal is offered at 2.55 per cent, while a 95 per cent LTV version is priced at 3.55 per cent. A £500 fee is applied to both products.

The lender has also launched a fee-free two-year discount product, available to 65 per cent LTV priced at 1.94 per cent. Remortgage borrowers are offered a free standard valuation up to £560 and legal services.

Leeds BS general manager for business development Martin Richardson says: “While many borrowers are choosing fixed rate deals, the expectation that base rate will stay at its historic low for some while longer might encourage more people to consider a variable mortgage rate.

“I’d expect the low or no-fee options to be attractive to homeowners looking to minimise the costs of remortgaging to a better deal.”

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