Leeds Lifetime Tracker mortgage offers five times salary loan

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Leeds Lifetime Tracker mortgage offers five times salary loan

Leeds Building Society has launched a new mortgage product that offers customers the opportunity to take a loan out that is five times their salary.

The new Leeds Lifetime Tracker mortgage will track the Bank of England base rate with an added one per cent comprising the rate. At present, this equates to 6.25 per cent.

Available at up to 95 per cent loan-to-value, the Leeds Lifetime Tracker mortgage has been described by Karen Wint, head of marketing and PR, as "competitive".

Speaking of the product launch, Ms Wint remarked: "With house prices still rising, this mortgage will help more customers who have a smaller deposit or limited equity get the property they are looking for."

Specifically, she said that first-time-buyers and young professionals would benefit from this mortgage who expect to see their income rise significantly.

Customers who are wishing to purchase the new Leeds Lifetime Tracker mortgage product can do so within one of the society's branches or via call centre.

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