Leeds shakes up mortgages with new range

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Leeds Building Society is changing its current three-year fixed rate mortgage deals into a new range of products for the New Year, which it said could save customers over £1,100.

The completion fee of £800 will be removed and a free standard valuation up to £335 will be added. In addition, the society is offering free legal services for standard re-mortgages.

The society’s three-year fixed rate products are available at current rates of 3.04 per cent up to 75 per cent loan to value (LTV), at 3.49 per cent up to 80 per cent LTV and at 3.99 per cent up to 85 per cent LTV.

It said all tiers of the product allow 10 per cent capital repayments each year without penalty, have no higher lending charge and a booking fee of £199.

Kim Rebecchi, Leeds Building Society’s sales and marketing director, said: “We are delighted to get 2012 off to a great start by converting our three-year fixed rate’s into a market leading New Year sale mortgage range.

“The removal of the £800 completion fee and the addition of a free standard valuation means it really will be a happy New Year.

“The opportunity to minimise the cost of the biggest monthly outgoing will be welcomed and this sale product provides this.”