Leeds Building Society has recently announced the launch of two-year fixed rate mortgages, offering customers a range of competitive rates and flexible options. This new product range is designed to give borrowers the security of a fixed rate mortgage, while also allowing them to benefit from the potential for lower interest rates over the two-year period.
The two-year fixed rate mortgage is available for both residential and buy-to-let properties, with loan amounts ranging from £25,000 up to £1 million. The fixed rate period runs for 24 months, after which the mortgage will revert to the lender’s standard variable rate. Borrowers can choose from a range of repayment options, including capital and interest, interest only, and offset mortgages.
The two-year fixed rate mortgage offers a number of advantages for borrowers. Firstly, it provides them with the security of knowing that their monthly payments will remain the same for the duration of the fixed rate period. This can be particularly beneficial for those who are on a tight budget and need to plan their finances with certainty. Secondly, if interest rates fall during the fixed rate period, borrowers can benefit from lower monthly payments. This could lead to significant savings over the two-year period.
In addition to the two-year fixed rate mortgage, Leeds Building Society also offers a range of other products, including tracker mortgages and variable rate mortgages. Customers can also benefit from a range of additional services, such as free mortgage advice and access to exclusive deals.
Overall, Leeds Building Society’s two-year fixed rate mortgage is an attractive option for borrowers looking for a secure and competitive mortgage product. With a range of repayment options and potential savings on offer, it could be an ideal choice for those looking to buy or remortgage their home.