Leeds Building Society has announced it is cutting the rate on its two-year fixed-rate mortgage by 0.20 per cent.
The reduction means the deal is now available at 2.95 per cent with up to 75 per cent loan-to-value (LTV).
Those who put pen to paper on such an arrangement are allowed ten per cent capital repayments each year without penalty, while they will also not be subjected to a higher lending charge.
Kim Rebecchi, sales and marketing director at the building society – which has 67 branches throughout the UK – described the offer as a “fantastic opportunity” for people looking to benefit from the certainty provided through low fixed repayments.
Ms Rebecchi noted: “This product delivers customers with the peace of mind and security that their monthly payments will remain the same for two years.”
She explained the mortgage between 76 per cent and 80 per cent LTV has also seen a rate reduction by 0.20 per cent to 3.29 per cent, while the rate from 3.89 per cent to 3.75 per cent is available between 81 per cent and 85 per cent LTV.