Leeds Building Society fixed-rate mortgage announced

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Leeds Building Society fixed-rate mortgage announced

Leeds Building Society has brought out a new five-year fixed rate mortgage for 75 per cent and 85 per cent loan-to-value (LTV) deals.

At 75 per cent LTV the interest rate is 5.35 per cent, which goes up to 5.75 per cent for an 85 per cent LTV mortgage.

Kim Rebecchi, director of sales and marketing at the organisation, claimed the fixed rate would give many people "peace of mind and security" as they are able to limit their monthly outgoings.

She said: "In these uncertain times, with historically low interest rates, we are seeing an increase in the number of customers looking to fix."

Both the 75 and 85 per cent LTV deals are available without a higher lending charge and each year ten per cent capital repayments are permitted.

Earlier this week a financial planner at Re-Financial Planning, Jacqueline Thornton, declared she was advising more people to go for five-year fixed rate mortgages, but that lenders were starting to make them more expensive.

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