Leeds Building Society three-year fixed-rate offset mortgage launched

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Leeds Building Society three-year fixed-rate offset mortgage launched

Wed 22nd Feb 2006

The Leeds Building Society three-year fixed-rate offset mortgage has been introduced with an interest rate of 5.19 per cent until April 30th 2009.

After this initial three-year period, the rate on the mortgage will track at 0.75 per cent above the Bank of England base rate for the duration of the deal.

The offer is available at up to 95 per cent loan to value (LTV) and there will be no higher lending charge at up to 90 per cent LTV.

It is claimed by the building society that the potential to offset their mortgage into a savings account could save customers money in terms of the overall interest they pay.

Karen Wint, head of marketing at Leeds, said of the deal: "The competitive mortgage rate, combined with the tax benefits offered on the savings accounts, will prove extremely popular with our customers."

The Leeds Building Society three-year fixed-rate mortgage offers free mortgage payment protection for six months and is also portable should borrowers wish to move house within the initial fixed period.

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