Leeds Building Society launches 5-year mortgage
Leeds Building Society has today unveiled a five-year fixed-rate mortgage which has no higher lending charge.
The new mortgage, which is available to customers looking to borrow up to 75 per cent of the property's value, has a rate of 5.35 per cent.
There is a fixed fee and ten per cent capital repayments are allowed each year without penalty.
Kim Rebecchi, director of sales and market ing for Leeds said the building society was seeing an increase in the number of borrowers who wanted a fixed-rate mortgage.
"We know," she said, "that many more mortgage holders will welcome the ability to budget and limit their monthly outgoings, particularly existing mortgage customers who may be coming to the end of the their current deal."
She added: "This is a fantastic opportunity for those borrowers who wish to lock into the certainty of low fixed repayments."
Customers who need to borrow up to 85 per cent of their property's value can also take advantage of the mortgage, but with a rate of 5.75 per cent.
There is a £199 booking fee, £800 completion fee and early repayment charges apply.
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