Leeds Slashes Rates by up to 0.5%
August 21st, 2008 by 
Guy
From tomorrow Leeds will cut the rates on its two-year fixed rate mortgages by up to 0.5% on its new product range.
The Leeds has also launched a new range of three-year fixed rate mortgages.A two-year mortgage is available from 5.25%, with three-year products starting at 6.24%.
There will be no higher lending charges on any of the new mortgage products and there are fees free versions also.
Jeff Kirk, corporate relationship manager at Leeds, says: “This suite of products offer outstanding value and take into account the reduction in swap rates which have factored in possible bank base rate decreases.
“We are keen to pass on these reductions to clients who are struggling in the current financial climate with large increases in the cost of living, particularly food, fuel and energy.
“We recognise that many clients like the ability to budget through fixed monthly payments. To be able to lock in value at such a low level over a period that best suits each borrower provides excellent peace of mind at an affordable rate. This will minimise the payment shock for a sizeable proportion of clients and reduce monthly outgoings for many more.
“Furthermore, all the products are fully portable, so if clients do wish to move during the term they can take the mortgage with them.”
All the products allow up to 10% capital repayments each year, without incurring a penalty. All fee-free versions also benefit from free in-house legal services for remortgages and no higher lending charge.
Posted in Mortgage news | 