2-yr mortgage has a rate cut | Product News - Moneyfacts

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2-yr mortgage has a rate cut

2-yr mortgage has a rate cut

Category: Mortgages
Date: 21/05/2015

MONEYFACTS ARCHIVE
This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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.

The basics…

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.

The finer details…

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.

Why we like it…

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

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

 
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