Leeds Building Society has reduced the rates of selected fixed rate products. One of the deals to benefit was its two-year fixed mortgage, which has earned an 'excellent' rating as a result.
This mortgage now has a rate of 2.49% fixed until 31.7.17. It is available at a loan-to-value (LTV) of 85% and has a low fee of £199.
This deal is open to first-time buyers, homemovers and remortgagors with a 15% deposit. All borrowers can profit from free valuation (up to £560), while those looking to remortgage their property can also benefit from help towards costs.
Overpayments of up to 10% of the outstanding balance are permitted per year, and it is also possible to make lump sum withdrawals, provided certain conditions are met.
The rate cut to this mortgage has increased its competitiveness, something that is sure to appeal to eligible borrowers. The low fee and the generous incentive package also ensure that upfront costs are kept to a minimum, which will appeal to those who have a restricted budget.
Moneyfacts rating: Excellent
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