View more on these topics

Leeds BS launches two new fixed-rate products

More borrowers are choosing longer fixed mortgages due to political uncertainty, says Leeds Building Society, and it has launched two new products as a result.

The building society has reportedly experienced an increased demand for three-year fixed rate mortgages over two-year deals in recent weeks, although the latter is still the most popular overall.

The first of the new products is a 1.79 per cent legally assisted three-year fixed rate mortgage, at 75 per cent LTV, with free standard valuation and a £999 fee, available until 30 April 2022.

The second new product is a 3.24 per cent purchase-only two-year fixed rate mortgage, at 95 per cent LTV, with free standard valuation and no product fee, available until 31 March 2021.

Both products have a 10 per cent penalty free capital over-repayments permitted each year.

Leeds Building Society director of product and distribution Jaedon Green says: “There’s been a definite spike in interest late this year in three-year fixed rate mortgages, particularly for remortgages.

“Two-year fixed rates are traditionally the most popular mortgage on the market, as the fixed rate provides security, but the commitment isn’t too long.

“The ongoing economic uncertainty because of Brexit may be making more borrowers look for some longer-term security and three years is a useful compromise if they feel five years ties them too far into the future.”

Recommended

hand, shake

SJP chairman takes non-exec role at Leeds BS

St James’s Place chairman Iain Cornish has taken up a role as a non-executive director at Leeds Building Society. A stock exchange notice shows that Cornish was appointed to the position on Friday. Last month, SJP announced that current chair Sarah Bates would be stepping down with Cornish, who chaired the firm’s risk committee, taking […]

Jaedon Green

Leeds launches BTL variable mortgages from 1.14%

Leeds Building Society has launched two discounted buy-to-let mortgages it claims are market-leading. The new discount variable mortgages have initial pay rates at 1.14 per cent up to 60 per cent loan-to-value and 1.34 per cent up to 70 per cent loan-to-value. The society expects them to appeal to existing landlords who want to remortgage […]

Leeds BS launches sub 1% mortgage

Leeds building society has launched a range of discount mortgages with initial pay rates starting at 0.99 per cent. A two-year deal with a 4.7 per cent discount off Leeds’ standard variable rate (currently 5.69 per cent), giving an initial pay rate of 0.99 per cent, is available up to 65 per cent loan-to-value with […]

Charity single “Take Me Home” charts on Amazon

Mortgage industry Christmas charity single “Take Me Home” can now boast of having breached Amazon’s top 10 download chart. The single was first announced in mid-November, and forms a part the mortgage industry’s push to raise awareness of, and combat, homelessness – which recently took the form of the Mortgage Sleep Out, where over 1,000 […]

thumbnail

What employers should expect over the next five years

A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.

Newsletter

News and expert analysis straight to your inbox

Sign up