Leeds BS tracker mortgage rates are cut.
The Leeds Building Society has announced the launch of new tracker mortgage deals. Trackers are linked to the BoE base rate which sits at an historic low of 0.5%.
Funding costs are falling and lenders are responding by cutting rates to pass on cost savings. The Leeds are just one of many lenders to cut their rates. Aready the lender has already released a longer term 10 year fix at 4.58% and now it has announced its tracker mortgage rates are to be cut too.
If you are looking for a cheap tracker you are advised to call Deal Direct.
The Leeds new 2 year tracker is offered at 2.79% plus base for 75% LTV with a low mortgage booking fee of £199.
A Leeds spokesperson commented saying that the new tracker deal is competitive and includes the options to repay up to 10% of the capital each year penalty free .
The base rate remains at an historic low but the IMF are calling for it to be cut further, which means tracker mortgage holders could benefit further.
Recently the BoE hinted that this may happen should the new funding for lending scheme fail to kick start the housing market and wider economy.
It is anticipated that cheap mortgage funding will be on offer throughout the summer. With the base rate low and rumours it may fall further, now is the time to source a cheap tracker mortgage deal.
Deal Direct as an independent broker have access to all UK lenders cheapest rates. We can find the right mortgage for you.
Call one of our advisers today.
