Leeds Three-Year Base Rate Tracker mortgage launched

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Leeds Three-Year Base Rate Tracker mortgage launched

A Leeds Three-Year Base Rate Tracker mortgage has been announced, which will track the Bank of England base rate until July 31st 2009 – giving it a current rate of 4.5 per cent.

The product is available at up to 80 per cent loan-to-value and does not have any higher lending charges.

It also allows unlimited capital repayments without penalty and is fully portable should customers wish to move house during the opening fixed-rate period of the deal.

Stuart Fearn, product development manager at Leeds, has said that this package is a good deal for borrowers in respect of the rising fixed rates currently on the market, with some three-year products currently at a level of around 5.2 per cent.

"This market leading product, giving customers a choice of where to apply, offers a superb combination of excellent value and outstanding service and we expect it to be extremely popular," Mr Fearn added.

The Leeds Three-Year Base Rate Tracker mortgage does not have any up-front fees to pay but does have a completion fee of one per cent of the loan amount.