Leeds Building Society has added three new deals at 90% LTV (loan to value) to its range of five year fixed rate mortgages.
The new products include one for purchasers of the most energy-efficient homes, as part of the Society’s efforts to support members in reducing their carbon footprint.
The new five year deals are:
- Fixed rate of 4.69% for purchase or remortgage, with no completion fee;
- Fixed rate of 4.64% for purchase or remortgage, with a £999 completion fee; and
- Fixed rate of 4.54% for purchase only of properties with an EPC or PEA rating A-C[i], with a £999 completion fee
Each is available up to 90% LTV and comes with a free standard valuation. For remortgages, incentives also include fees assisted legal services.
“Ongoing economic volatility and the rising cost of living are prompting more borrowers to seek out longer term fixes and the payment security these can offer,” said Jonathan Thompson, Senior Mortgage Manager at Leeds Building Society.
“When a mortgage tends to be your biggest monthly outgoing, choosing to fix gives certainty which can help with managing the rest of your household budget as bills for utilities and essentials continue to rise.”
Improving rates on 90% LTV deals follows the Society’s launch of new 95% LTV five year fixes earlier this month, to support borrowers with smaller deposits.
This traditional higher-LTV lending complements the mutual’s activity in affordable housing sectors including Shared Ownership and First Homes, to fulfill its purpose of putting home ownership within reach of more people.
Also this month, Leeds Building Society revamped its online affordability calculator to take account of the better energy efficiency in newer properties, improving affordability for applicants wanting to buy a home built since 2020.
[i] Property must have an EPC (Energy Performance Certificate) rating of A-C, or a PEA (Predicted Energy Assessment) rating of A-C if a new build
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