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20th December 2011 For Immediate Release
Leeds offers 5-year fixed rate mortgages up to 95% loan-to-value
Leeds Building Society has increased the loan-to-value (LTV) on its 5-Year Fixed Rate mortgage to 95%, and has also introduced a 90% LTV tier with a rate below 5%. Furthermore, the UK’s 5th largest building society is also offering fees assisted versions at these high LTVs for customers who need assistance with upfront set-up costs.
Kim Rebecchi, Leeds Building Society’s Sales and Marketing Director said, "We know that many customers are looking to lock in value and that finding a large deposit can be a challenge. That is why we have launched these 5-Year Fixed Rates available with as little as a 5% deposit.
"These deals deliver certainty and peace of mind on what is often the biggest monthly outgoing for many households, at a very affordable rate and at a time when people are seeing other bills continue to rise. Therefore, these products will be attractive to customers looking to budget, and particularly to those customers looking for a highly competitive deal with a low deposit.
"We have significantly increased our lending this year and believe that these products will stimulate further homeownership at an affordable rate and support the wider economy."
The 5-Year Fixed Rate starts at 4.94% and the fees assisted version from 5.34%. All the mortgages allow 10% capital repayments each year without penalty and do not have a higher lending charge.
Kim Rebecchi added, "We have also launched fees assisted versions of these products, for those who require help with up-front costs. These new products are available throughout our branch network, where we have fully qualified mortgage advisers to discuss individual customer needs."
For more information, customers can call into their local branch, or visit www.leedsbuildingsociety.co.uk. Alternatively call the Society’s mortgage hotline, on 08450 540 994, where qualified mortgage advisors are available 7 days a week from 8am to 8pm in the North East based call centre.
Ends
Notes to Editors
Key Features
- Tier 1 - 4.94% available up to 90% LTV.
- Tier 2 - 5.99% available from 91% to 95% LTV.
- No Higher Lending Charge.
- 10% capital repayments are allowed each year without penalty.
- £199 Booking Fee.
- £800 Completion Fee.
- Tapered early repayment charges of 5% of the amount redeemed in years 1 and 2, 4% in year 3, 3% in year 4 and 2% in year 5.
- Rate includes 0.24% discount for taking the Society’s Homecover insurance – required until 28 February 2017. If home cover is not taken at any time, 0.24% discount will not apply.
- Tier 1 - 5.34% available up to 90% LTV.
- Tier 2 - 6.39% available from 91% to 95% LTV.
- No Higher Lending Charge.
- No completion fee.
- Free standard valuation worth up to £335.
- Free in-house legal services for standard re-mortgages.
- 10% capital repayments are allowed each year without penalty.
- £199 Booking Fee.
- Tapered early repayment charges of 5% of the amount redeemed in years 1 and 2, 4% in year 3, 3% in year 4 and 2% in year 5.
- Rate includes 0.24% discount for taking the Society’s Homecover insurance - required until 28 February 2017. If home cover is not taken at any time, 0.24% discount will not apply.
Leeds Building Society has assets of £9.5bn (as at 31 December 2010) and 67 branches throughout the UK, Gibraltar and Ireland. The Society has operated from the centre of Leeds since 1886.