New 5 year LBS mortgage 'will provide security'

Date:Thursday 12th November 2009
Author: Susanna Kavka

Leeds Building Society has launched two new fixed-rate mortgages with loan-to-values (LTV) up to 85 per cent, which could be ideal for those wanting to take advantage of current low interest rates.

A product with a "market leading" 4.99 per cent rate is available with 75 per cent LTV, while 85 per cent LTV is offered with a rate of 5.75 per cent.

The mortgages come with no higher lending charge and penalty-free ten per cent capital repayments annually.

These two features offer security during economically difficult times as monthly repayments will remain unchanged for five years, according to Kim Rebecchi, director of sales and marketing at the building society.

A range of fee-assisted loans with a LTV up to 85 per cent and free legal and valuation fees is also being launched, which the company say are ideal for those looking to remortgage.

Last month the lender introduced a new range of offset mortgages, including a five year fixed-rate of 5.49 per cent with fee assisted options for customers who require extra assistance meeting the up front costs.