Home Property Finance & InvestmentMortgages Rate reductions to higher LTV mortgages among Leeds fixed range refresh

Rate reductions to higher LTV mortgages among Leeds fixed range refresh

by LLP Finance Reporter
2nd Aug 23 3:51 pm

Leeds Building Society has improved a selection of its short term fixed rate deals, including products at 90% and 95% LTV (loan to value).

Having just reported results for 2023 H1 – when almost half (49%) of all its new borrowers were first time buyers – the Society is again showing its support for affordable housing schemes and homebuyers looking to step onto the housing ladder.

Highlights include:

  • Two year fixed rate of 6.94% up to 95% LTV, with £250 cashback;
  • Two year fixed rate of 6.49% up to 90% LTV;
  • Shared Ownership three year fixed rate of 6.59% up to 95% borrower share.

Each of these mortgage deals includes a free standard valuation and has no completion fee.

“We’ve reduced rates on existing residential two and three year fixes by up to 0.20%, and have expanded the choice of products above 75% LTV,” said Jonathan Thompson, Senior Mortgage Manager at Leeds Building Society.

“As a key lender in the affordable housing sector, we’ve refreshed this range too, introducing some new Shared Ownership deals with fixed rates for two, three or five years, for borrower share of 85% or higher.

“We were proud our H1 results showed how we’re delivering on our purpose to put home ownership within reach of more people and we’ll continue to seek more ways we can do this.

“Already this year we’ve innovated to support first time buyers, to help them build up a deposit or boost their credit score to improve their chances of a successful mortgage application.

“Our Home Deposit Saver is a regular savings account with a £500 bonus when the saver receives their mortgage offer from the Society.

“And our unique partnership with Experian is supporting mortgage applicants – the free Experian Boost service takes into account regular current account payments when assessing an applicant’s credit score, providing more data about their repayment habits and potentially boosting their score.”

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