Leeds launches new five-year remortgage deal

8th September 2015

Leeds Building Society has launched a new five-year fixed-rate remortgage deal. It is available up to 85% loan-to-value (LTV) at 3.34% with no product fee. The deal includes a free valuation for properties worth up to £500,000 and fees-assisted legal services.

The new product was launched in response to growing remortgage activity in July, when, according to research from Legal Marketing Services, remortgage levels were at their highest since November 2008.

“We’ve experienced strong and growing demand in the past couple of months from remortgagers who are taking the opportunity to switch to a better deal,” said Martin Richardson, Leeds Building Society’s general manager, business development.

“With the bank base rate potentially staying at its historic low for longer than recent speculation has indicated, a longer-term fix at a competitive rate is an attractive option for borrowers wanting security of payments for what’s likely to be their largest monthly outgoing.

“A remortgage to a competitive rate can bring down monthly repayments or even shave months or years off the total life of a mortgage, saving many thousands of pounds overall.

“This latest five-year deal has no upfront fees, in line with the rest of our remortgage range, which also includes shorter fixed and variable rate products for borrowers wanting greater flexibility.”

*2 year fixed with TSB 1.09% then 3.59% - APRC is 3.3% Max LTV is 60%. Quoted on 27th May 2020.