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Leeds launches 10-year fixed rate deal

Expectations of lower rates in the future have re-emerged following the issue of the Bank of England’s quarterly inflation report.

This resulted in falls in money market rates yesterday. Taking advantage of this reversal, the Leeds has launched a best-buy 10-year fixed rate mortgage at only 4.69% for sale via its intermediary network. The product is available up to 80% LTV and there is no higher lending fee payable. It also includes the flexibility of a 10% capital repayments allowance each year. There is no application fee but there is a completion fee of 1% of the loan amount.

Karen Wint, head of marketing & PR at the Leeds, says: “This 10-year fixed rate offers outstanding value, with certainty of payments and the flexibility to pay 10%of the balance without penalty. The last 10-year mortgage we offered outsold our expectations.

It is clear that borrowers want to lock in good value when rates are low enough and this is another ideal opportunity. We know this will be popular as many customers like the peace of mind offered by this type of product. In view of our experience last time, I would urge customers to act quickly to avoid disappointment.”


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BSA reveals October lending the highest of 2005

Lending and saving figures from the Building Societies Association reveal building society gross advances amounted to 3,808m in October, compared to 3,497m in October last year. Net advances were 929m in October, down from 1,055m in October 2004, and approvals increased to 3,870m from 3,021m in October 2004.In the savings market, building societies had net […]

Bradford & Bingley responds to CML figures

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Brits overcharged for overseas transfers, says Currencies Direct

Brits with a dream home in the sun are being overcharged by the banks when transferring money regularly from the UK, says Currencies Direct. Emigrating or having a second home abroad is increasingly common, with over 208,000 people moving overseas last year. As a result, the requirement for transferring money abroad has increased. In direct […]


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