Leeds Building Society ups LTVs on fixed-rate mortgages
Wednesday, 21 December 2011 04:53
Leeds Building Society has announced that it has increased the loan-to-value (LTV) ratio on its five-year fixed-rate mortgages.
In news that could help first-time buyers in particular, the financial services provider said the LTV will now be 95 per cent, although those with a ten per cent deposit will benefit from interest rates below five per cent.
For example, the fixed-rate products start at 4.94 per cent, while fees assisted mortgages provide a rate of 5.34 per cent.
All offer ten per cent capital repayments each year without incurring a penalty.
Leeds Building Society's Kim Rebecchi said: "These deals deliver certainty and peace of mind on what is often the biggest monthly outgoing for many households, at a very affordable rate."
She added that these products could help to stimulate the economy by increasing home ownership.
Leeds Building Society also recently cut the rate of its ten-year fixed rate mortgage by one per cent, meaning it now stands at a market-leading 4.99 per cent.
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