Leeds ten-year fixed-rate mortgage launched

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Leeds ten-year fixed-rate mortgage launched

Fri 3rd Nov 2006

A new ten-year fixed-rate mortgage has been introduced by Leeds Building Society with an interest rate of under five per cent.

The product is also available in a fee-free version and it comes with the benefit of having no higher lending charge as well as up to 90 per cent loan to value.

Leeds Building Society's ten-year fixed-rate mortgage, which has a rate of 4.99 per cent and a completion fee of £749, accompanies mortgages over £500,000, while loans above this are subject to negotiation.

Karen Wint, head of marketing and PR at Leeds Building Society, stated: "With market commentators predicting a rise in bank base rate next week and potentially further increases next year, a ten-year fixed-rate under five per cent offers outstanding value."

"This product delivers long term peace of mind combined with the flexibility to pay ten per cent capital repayments each year without penalty. It is also fully portable, so customers can continue to benefit when they move home," she continued.

Leeds Building Society allows its customers to purchase a mortgage either by phone, online or in the branch.

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