Leeds and Holbeck remortgage offers – known from 2005 as Leeds Building Society – provide innovative remortgage solutions, tailored to your requirements. Choose from fixed-rate, flexible and tracker packages, all of which let you offset savings from up to 3 separate accounts. Unlike the old Leeds and Holbeck remortgage policies, many are available to those with poor credit history.
Leeds Remortgage Review
Leeds Building Society has its origins in the Leeds Union Operative Land and Building Society, which formed in 1845 to facilitate property ownership in the Yorkshire and Humber region. Today, it ranks among the UK’s 10 largest building societies, with assets in excess of £8 billion. The Society currently supplies mortgage and investment products to 70,000 customers nationwide.
Leeds was declared ‘Best Building Society’ in Mortgage magazine’s 2006 awards.
Teaming up with Leeds could help you to:
- Pay off your mortgage more flexibly, with the option to “borrow back” from any overspend at a later date
- Offset excess income to reduce interest on borrowings
- Consolidate card and loan debts into a single servicing payment
What is a remortgage?
A remortgage is when you replace your existing mortgage with a new one. There are many reasons for remortgaging, but the majority fall into one of the two following categories:
- Remortgaging to save money – If you have a fixed rate mortgage deal, your interest rate will usually switch to the lender’s Standard variable Rate (SVR) which is likely to be higher and will probably mean that you have to pay more each month. By switching to a better deal with a different mortgage provider, remortgaging could potentially allow you to benefit from lower interest rates and lower monthly mortgage repayments.
- Remortgaging to raise money – Remortgaging can allow you to release some of the equity in your home. This could be useful if you wanted to carry out repairs to the property, add an extension, help your child with their own mortgage deposit, or consolidate other existing debts.
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