5-year mortgage launched by Leeds

Leeds Building Society launches new discount mortgage

Would-be property buyers who are struggling to save up a deposit may be interested in a new deal offered by Leeds Building Society.
Leeds Building Society ups LTVs on fixed-rate mortgages

Leeds Building Society has announced that it has increased the loan-to-value (LTV) ratio on its five-year fixed-rate mortgages.

Friday, 19 June 2009 12:00

Leeds Building Society is offering a new five-year fixed-rate mortgage with a rate of 5.10 per cent.

The product, which has no higher lending charge, is available for borrowers looking for loans of up to 75 per cent of their property's value.

However, there is also a version for people looking for a greater loan-to-value (LTV) ratio of 85 per cent. This comes with a rate of 5.60 per cent.

Kim Rebecchi, director of sales and marketing, said: "Market rates are ticking up and we have seen increased coverage in the media relating to fixed rate mortgages increasing.

"However, good value fixed rates are still available at up to 85 per cent loan-to-value."

The mortgage comes with a £199 booking fee. There are early repayment charges, which start at five per cent in the first year of the mortgage and reduce annually to two per cent in year five.