3 Dec

Leeds Building Society re-launches best buy mortgage range

Leeds Building Society re-launches best buy mortgage range

A five-year fixed-rate mortgage range has been re-launched by Leeds Building Society.

The lender will now be offering a best-buy product at 4.75 per cent with a maximum loan-to-value (LTV) of 75 per cent.

Consumers will also be able to make up to ten per cent capital repayments each year without any penalty and there is no higher lending charge attached to the loan.

A mortgage with an LTV of 85 per cent will also be made available with a rate of 5.5 per cent.

Kim Rebecchi, director of sales and marketing at Leeds Building Society, said: "These offers are great news for borrowers looking to take advantage of the low levels of interest rate."

She added that the five-year term of the mortgage will give consumers an added level of security as their monthly payments will remain the same, regardless of the changing financial environment.

In November, the Council of Mortgage Lenders reported that gross mortgage lending rose by five per cent in October compared with the previous month.

Borrowing for properties in the UK now stands at an estimated £13.5 billion.

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