Leeds launches 5-year fix for 85% LTV
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Leeds Building Society has launched a five-year fixed rate mortgage at 5.75% available up to 85% LTV.
There is no higher lending charge and 10% capital repayments are allowed each year, without penalty. Borrowers with a larger deposit can benefit from a rate of 5.25%. range of offset mortgages from only 5.49% that includes a number of market leading products. Borrowers can access mortgage funding with only a 15% deposit and there are fee assisted options for those customers who require help with up front costs.
Kim Rebecchi, director of sales & marketing at Leeds, says: “This is a fantastic opportunity for those borrowers with a smaller deposit to lock in to low rates for 5-years and benefit from peace of mind and security, over a large part of a typical mortgage life, at a very affordable rate.
“In these uncertain times, with historically low interest rates, we are seeing an increase in the number of customers looking to fix. Therefore, we know that many more mortgage holders will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage customers who may be coming to the end of their current deal.”
The society has also launched a range of offset mortgages from 5.49%.
Readers' comments (2)
Vote Tory - FSA Out | 23 Oct 2009 3:56 pm
C'mon Leeds do something for your existing borrowers that you are screwing on your SVR's. You don't deserve new business.
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Avenue & Co Private Finance | 10 Nov 2009 5:05 pm
Knowing that Leeds SVR is at 5.49% as of 11.10.09, to offer a fixed rate at 5.75% is shocking when they are borrowing at less than 1%.
No wonder lenders are jumping to profit so quickly!
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