Leeds slashes its mortgage rates

Leeds Building Society has cut its mortgage rates in order to make moving house more affordable.

The financial firm has reduced the interest rate on its two-year fixed mortgage by 0.5 per cent, meaning that the deal now offers competitive interest of 3.14 per cent.

Furthermore, the new rate is available on mortgages with up to 80 per cent Loan to Value LTV with no higher lending charge and ten per cent capital repayments allowed each year without penalty.

"Many customers will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage customers who may be coming to the end of their current deal," said Kim Rebecchi, sales and marketing director at the building society.

A similar loan is also available with the same flexible benefits, offering mortgage rates on 4.05 per cent on LTVs of between 81 and 85 per cent.

Meanwhile, Yorkshire Building Society has launched an online mortgage product following a poll which revealed that 45 per cent of people would like to apply for a home loan on the web.

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2011-08-04 16:59:05 © Moneyextra.com