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Leeds to launch new range starting at 1.84%

Leeds Building Society is set to launch a suite of two- and five-year fixed rates starting from 1.84 per cent.

The 1.84 per cent product will be offered on a 65 per cent LTV deal with no fee.

At 85 per cent LTV, a five-year fix will be offered at 3.59 per cent with no fee. The deal includes free standard valuation for properties valued up to £500,00 and free legal services for remortgage borrowers.

The new deals are available from 13 January for both purchase and remortgage borrowers.

The lender will also launch a range of five-year fixed rate offset mortgages from Wednesday, starting at 2.99 per cent for a 75 per cent deal.

Leeds BS general manager for business development Martin Richardson says: “As the chances of a base rate rise have become less likely, we’ve been seeing greater demand for longer term fixed rate products and our new five year deals are in response to this.

“An increasing number of borrowers are taking advantage of the current low interest rate environment to lock into a competitive deal and enjoy the security of fixing their monthly repayments for the longer term.”

Last week, Leeds BS launched a range of discount mortgage products with rates starting from 1.6 per cent.

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