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Leeds launches base rate tracker

Leeds has launched a base rate tracker mortgage at 0.14% above Bank of England base rate.

The product, currently 4.64%, also allows 10% capital repayments each year and there are no higher lending fee.

The society has introduced a policy of offering two versions of its products, where customers can select a fee-free version or choose to pay fees in exchange for a lower rate.

Karen Wint, head of marketing and PR, says: “Our policy of offering two versions of products has proved extremely popular. The fee-free versions will appeal to customers with a smaller mortgage or who require help with fees. Where customers have a larger mortgage, then it will be beneficial to look for the version with the lowest rate and pay a fee.

“It is important that customers take the right mortgage to suit their needs and offering a fee-free version of all our products ensures that, whatever the individual circumstances, customers get the right product.”

Leeds has also launched a shared ownership mortgage, designed specifically to help first-time buyers. It has a 1.50% discount for three years, no higher lending charge and 100% of the borrowers share available. Customers looking to remortgage will also benefit from free inhouse legal services.


BoE battles to recuperate 70m BCCI legal fees

The Bank of England today launched its bid to recuperate more than 70m of legal fees from its 12-year dispute with Deloitte, the liquidator of the fraud-ridden Bank of Credit and Commerce International. In 1993 Deloitte sued the BoE for failing to supervise BCCI sufficiently, after it collapsed two years earlier with debts of 9m. […]

Lifestyle expectations to blame for rise in insolvency rates

Lifestyle expectations and changes in bankruptcy laws are to blame for the rise in personal insolvencies, says Philip Long, an insolvency expert at accountants and business advisers PKF.Figures released today show that personal insolvencies in Q3 have risen 11.6% on last quarter and have increased 46% on the same period a year ago. There were […]

Combined loan

Coventry has launched MOREgage, a combined mortgage and unsecured loan for first-time buyers and movers looking to not only buy a home but also cover the associated costs.

Think about HIPs, says AMI

Senior figures from the mortgage industry met the Association of Mortgage Inter- mediaries last Wednesday to discuss how Home Information Packs will affect business and the housing market. The meeting was arranged in light of the publication of draft government regulations on October 31 that set out the cost and contents of HIPs. Ben Stafford, […]


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