Leeds fixed-rate mortgage provides 'security'

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Leeds fixed-rate mortgage provides 'security'

Thu 26th Apr 2007

Leeds Building Society has announced details of a new three-year fixed-rate mortgage which is being unveiled from today.

Specifically catering for buy-to-let investors, the Leeds mortgage possesses a rate of 5.75 per cent, with its fixed rate providing peace of mind to homeowners.

Available at up to 80 per cent loan-to-value, the package necessitates no higher lending charges, while ten per cent in capital repayments is allowed each year without penalty.

Karen Wint, head of marketing & PR at the group, said the new package would be "of particular benefit if the widely predicted increase in bank base rate takes place, possibly as early as next month".

She added: "We will also look at earned income in addition to rental income when assessing applications, giving landlords greater flexibility. This facility enhances the amount that can be borrowed where the rental yield does not cover 130 per cent of the mortgage payment."

A fee-free version of the Leeds mortgage is also available at a rate of 6.60 per cent, which interested customers can find out more about at their local branch, on the group's website, or by phone.

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