Leeds introduces fee-free 10-year fixed rate mortgage

Fee-free version of best buy 10 year fixed rate mortgage Following the launch last week of its 10-year fixed rate mortgage at 4.69%, Leeds has introduced a fee-free version at 4.99%.

It comes with a free valuation, a 10% capital repayments allowance each year and free legal services for remortgages.

Karen Wint, head of marketing and PR at Leeds, says: “We have found customers and intermediaries really like having the choice of fee-paying or fee-free versions of the same product, as it means people with different circumstances are able to take the most suitable option.

“Both of these 10-year mortgages represent great value and certainty of payment. I am delighted we have been able to launch with no fees under the 5% barrier.”

The fee-free version is available through the societys branches, call centre or via a mortgage intermediary.”

The product has a fixed rate of 4.99% until October 31 2015, and is available up to 80% LTV.

There is no higher lending charge, 10% capital repayments allowed each year without penalty, and is fully portable if borrowers move during the fixed rate period.

It offers free mortgage payment protection for 6 months, and tapered early repayment charges of 6% of the amount redeemed in years one to two, 5% in years three to six, 4% in years seven to eight, 3% in year nine and 2% in year 10.