Leeds Building Society Mortgages

The Leeds Building Society is the fifth largest building society in the UK, serving over 700,000 customers across 65 branches positioned all throughout the United Kingdom and the Republic of Ireland. They offer a wide range of savings accounts, life planning services, and insurance. However, here, we’re going to take a closer look at the mortgages they offer and why they may be just the thing for you.

About Leeds Building Society mortgage deals

If you’re looking for a specialist mortgage, then Leeds Building Society might be just the place for you. It offers 150 different mortgages, the majority of them being fixed rate mortgages, with some discount and tracker loans available, as well. Their fixed interest rate loans tend to have a rate of 2.28%, which is under the industry average and many of their mortgages also offer £1000 cashback. Overpayments are sometimes available on many loans, too, so customers can reduce the interest-building sum by paying a minimum of £1000. What’s more, there are zero application fees on all mortgages, making them more immediately accessible to homebuyers.

Welcome mortgages

Of particular interest to some might be the “Welcome mortgages”, which come with 0% interest for some months, reducing the overall monthly payment so customers can instead spend money on home repair, improvement, and decoration. What you don’t pay during those first months is spread across the entirety of the remaining term, so repaying it is much easier.

Types of mortgage on offer

Here’s an overview of some of the mortgages, general and specialist, that Leeds Building Society offers. As mentioned, there are over 150 different loans available, so this list won’t be comprehensive, but it might give you an idea of where to start:

• Fixed rate mortgages: Payments stay the same for a fixed term, allowing you to know how much you’ll be paying month on month.
• Tracker rate: The rate changes based on the Bank of England’s Base Rate for house purchases or remortgaging from another lender. The variable rate offers the opportunity to overpay when rates are low.
• Discounted mortgages: There’s a range of mortgages with discounted rates for up to 3 threes years of the loan’s term.
• Buy-to-let mortgages: With a range of options, including some fee-assisted loans, these mortgages help landlords (and future landlords) set up a rental property.
• Shared ownership/equity mortgage: Few lenders offer this. First-time buyers can benefit from small deposit payments, resulting in owning a percentage of the property. This can be expanded to full ownership after the mortgage term is complete, too.
• Holiday let mortgages: Loans designed specifically for those who want to buy holiday rentals, with a range of both fixed and variable rates available.

Each of these categories has a range of options within them. What’s more, the Leeds Building Society is well known for having some of the best customer service in the industry, so both their Mortgage guides and their advisors can help steer you in the right direction.

Why customers choose Leeds Building Society Mortgages

Besides the range of specialist products helping out a people in a wide variety of different buying situations, Leeds Building Society Mortgages regularly rates amongst the best when it comes to customer service, ease of application, and keeping customers informed on the terms and conditions of their loans. If you’re looking for a loan that few lenders can help with, they might be the right choice for you.