Three building societies have launched a string of competitive new fixes with rates starting from 2.04% and LTVs rising as high as 90%.
The fixed-rate mortgage market is red hot right now, with recent research showing that nine out of 10 new borrowers fix to take advantage of record low rates.
Leeds Building Society unveiled a range of two and three-year fixed rates for remortgage customers. This includes a two-year fixed rate charging 2.04% and a three-year fixed rate at 2.7%, both to 60% LTV.
Leeds has also launched two mortgages to 75% LTV, a two-year fix at 2.24% and a three-year fix at 2.99%.
The range is completed by two new 80% LTV mortgages, 2.49% fixed for two years and 2.99% fixed for three years.
The products, available both direct and through intermediary channels, all offer free standard valuations up to £335 and free in-house legal services for standard re-mortgages.
They all have total fees of £999, up to a maximum loan size of £500,000. There is no higher lending charge and borrowers can make 10% capital repayments each year without penalty.
Kim Rebecchi, sales and marketing director at Leeds, said: “Both the two and three-year versions are ideal for re-mortgages, as they offer free standard valuations and free in-house legal services for standard re-mortgages, together with total fees of just £999."
Hinckley & Rugby Building Society is launching a new two-year fixed rate mortgage at 3.89% up to 90% LTV. This includes a free valuation for properties up to £1 million, plus a £295 arrangement and £695 completion fee. There are no early repayment charges.
Hinckley & Rugby chief executive Chris White said: “There is growing demand for mortgages at up to 90% LTV and this fix offers very competitive repayments during the first two years.”
Chelsea Building Society has re-priced its range including the five-year fixed rate to 90% LTV, priced at 5.14% to 31 December 2018.
The mortgage has a £375 fee, plus an incentive package with a £200 cash rebate.
Borrowers can make overpayments up to 10% of the advance, plus underpayments and payment holidays.
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