Leeds & Holbeck fixed-rate mortgages target first-time buyers

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Leeds & Holbeck fixed-rate mortgages target first-time buyers

New Leeds & Holbeck mortgages that are targeted at first-time buyers have been introduced.

The fixed-rate mortgages are designed to help out first-time buyers by keeping front costs to a minimum and eliminating the need to find a deposit.

The 100 per cent three-year fixed-rate features a 5.89 per cent fixed-rate until September 1st 2008, free valuation up to £305, no higher lending charge and no completion fee.

The 100 per cent five-year fixed-rate is fixed at 5.79 per cent until September 1st 2010 and comes with the same benefits as the three-year rate.

Karen Wint, head of marketing & PR said: "These products are specifically designed to help first time buyers get onto the housing ladder.

"Customers do not need to find a deposit and both products are fixed, allowing customers to budget effectively, which is particularly important when buying a first home."

Leeds & Holbeck launched the two products after a recent survey showed it now takes first-time buyers an average of ten months more time to save a five per cent deposit to buy their first home compared with just a year ago.

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