Leeds unveils two-year mortgage deals

Leeds Building Society unveiled two new mortgage products this week.

The new products include a two-year base rate tracker (BRT) mortgage, and a two-year fixed-rate mortgage.

The BRT mortgage is available to homeowners borrowing up to 75% of the value of their property, with interest charged at 2.7% above the Bank of England’s base rate.

Customers opting for the fixed-rate deal will be charged interest at 4.6%.

Both mortgages give customers the option of repaying up to 10% the value of their home each year, penalty free.

Leeds said it launched the mortgages based on research which found homeowners are looking for two year products.

“The feedback we have received is that many customers are looking for 2-year deals and, in particular, that BRT mortgages are in demand,” said Kim Rebecchi, Leeds director of sales and marketing.

“That is why we have launched this range to give customers a competitive option over a 2-year period combined with the flexibility of capital repayments without penalty,” added Ms Rebecchi.

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