Five-year fixed-rate launched by Leeds Building Society

Date:Tuesday 2nd February 2010
Author: Susanna Kavka

A new five-year fixed-rate mortgage has been announced by Leeds Building Society.

The new market-leading product is available with a rate of 4.7 per cent and is on offer with products of up to 60 per cent loan-to-value (LTV).

For customers looking for higher LTV there is an 85 per cent offer with a rate of 5.7 per cent, or an 80 per cent LTV mortgage with a 4.85 per cent interest rate.

Kim Rebecchi, sales and marketing director at Leeds Building Society, said that the new products were good for prospective buyers who were looking to "lock in value" and offer customers "the security that their monthly payments will remain the same for five years in an ever changing financial environment".

All three of the products are available with no higher lending charge and allow ten per cent capital repayments a year without a fee.

The institution stated in December that its range of products were well placed in the current mortgage market to offer good deals to people looking to move house.