30 Nov

Leeds Building Society launches new fixed-rate mortgage

Leeds Building Society launches new fixed-rate mortgage

Leeds Building Society has announced that it will now be offering its customers a two-year, fixed-rate mortgage at 3.79 per cent.

In addition to the competitive rate, there will be no higher lending charge and borrowers will be able to make ten per cent capital repayments each year without incurring any penalties.

Kim Rebecchi, director of sales and marketing at the financial services firm, said: "This is a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments."

She added that it would offer customers "peace of mind".

This product is available at a loan-to-value (LTV) of 75 per cent, but consumers can also get an 85 per cent LTV mortgage under the same conditions at a higher 5.79 per cent rate.

In November, the British Bankers' Association reported that the number of house purchase approvals increased slightly and mortgage lending was still growing after reaching particularly low levels towards the end of 2008.
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