Leeds Building Society ten-year fixed-rate mortgage launched
www.moneynews.co.uk > Mortgages > Leeds Building Society ten-year fixed-rate mortgage launched
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Money News |
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Leeds Building Society ten-year fixed-rate mortgage launched
Wed 15th Nov 2006
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The new product offers customers an interest rate of 4.99 per cent which is available up to a loan-to-value of 90 per cent and the mortgage can be purchased by repeat customers as opposed to solely first-time buyers.
Leeds Building Society's ten-year fixed-rate mortgage is fixed until January 1st 2017 and will then switch to the Bank of England Base Rate as well as 0.95 per cent.
Ian Ward, chief executive of Leeds Building Society, stated: "With [the Bank of England base rate] currently at five per cent, this product will prove attractive for many people who do not want to take any risks on the path of future interest rates and protect themselves against any increases."
Leeds Building Society is the current holder of Mortgage Magazine's Best Building Society award and beat more than 60 mortgage lenders to claim the accolade.
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