Leeds & Holbeck launches five-year fix

Leeds & Holbeck has launched a five-year fixed rate mortgage at 3.7%.

The loan is available for house purchase or remortgage from August 1 to August 26 2003.

Key features of the product include availability of up to 80% of property value, penalty-free capital repayments up to 10% allowed each year and free mortgage payment protection for six months.

Tony Burdin, head of marketing at L&H, says: “We believe this loan will appeal to people who want certainty about their mortgage payments over the next five years.

“The flexibility to repay 10% of capital each year will appeal especially to borrowers who receive regular bonuses.”