20 Feb

Lenders launch new mortgage rates

Lenders launch new mortgage rates

Leeds Building Society has announced the launch of a new fixed-rate mortgage deal.

The lender is offering a five-year product at a rate of 4.75 per cent, which is available at up to 75 per cent loan-to-value with a fee of £199.

Leeds has set the repayment rate at the same level that applies to its ten-year fixed-rate mortgage.

In addition to this, borrowers are permitted to make capital repayments of up to ten per cent each year without incurring any penalty.

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

Yesterday Alliance & Leicester announced changes to its fixed-rate mortgages.

It is offering a reduced rate on its two-year deal and has introduced a new three-year product with a lower arrangement fee.

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