Leeds ten-year fixed rate proves popular

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Leeds ten-year fixed rate proves popular

With a rate of 4.65 per cent, the Leeds ten-year fixed rate mortgage has proved extremely popular with customers.

The news has come as the Council of Mortgage Lenders (CML) has released its latest figures, showing that fixed rate mortgages accounted for 54 per cent of all loans taken out in August.

Jeff Kirk, corporate relationship manager at Leeds Building Society, told Mortgage Introducer: "The average fixed rate in August was at 5.23 per cent compared to an average variable rate of 5.61 per cent.

"Our ten year fixed rate offers your clients peace of mind, the ability to budget and the flexibility to pay off ten per cent of the balance each year without penalty."

Currently, the market is good for those looking to borrow a mortgage, as many low-rate deals that were on offer a couple of years ago are coming to an end, leaving mortgage providers in a battle to attract customers.

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