Leeds launch a two-year fix rate at 1.99%

by Aaron Strutt

Oct 07 2011

Leeds Building Society has launched what is thought to be the lowest ever two-year fixed rate at 1.99%. The arrangement fee is £1,999.

The rate is available to borrowers with a 30% deposit and the maximum loan is £500,000. Mortgages above £500,000 have a 1% arrangement fee.

Aaron Strutt, a broker at Trinity Financial, says: "The Leeds two-year fix is as cheap as many of the lowest tracker rates available in the market. The margins between the lowest fixes and base rate trackers is getting smaller."

Last week, Woolwich increased its tracker rates and its lowest two-year fix at 2.48% - available up to 70% loan to value with a £1,999 fee - is now cheaper than its comparable two-year tracker rate of 2.49%.

7 October 2011