On Friday 17 October Leeds Building Society is revamping its range of five-year fixed rate mortgages at 80% and 85% LTV.
The new deals are as follows:
Five-year fixed rate mortgage at 3.34% up to and including 31 December 2019:
- Available up to 80% LTV
- £999 Fee
- 10% penalty free capital repayments are allowed each year
- Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed
Five-year fixed rate mortgage at 3.79% up to and including 31 December 2019:
- Available up to 85% LTV
- £999 Fee
- 10% penalty free capital repayments are allowed each year
- Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed
Fees-assisted five-year fixed rate mortgage at 3.99% up to and including 31st December 2019:
- Available up to 85% LTV
- £199 Fee
- Free standard valuation up to £335
- Fees assisted in-house legal services for standard re-mortgages
- 10% penalty free capital repayments are allowed each year
- Tapered Early Redemption Charges of 5/5/4/3/2% of the amount redeemed
“With speculation growing about when the Base Rate will finally begin to rise again, we’re seeing steady interest in longer term fixed rate mortgages,” said Martin Richardson, Leeds Building Society’s general manager – business development.
“We expect these new five year deals to appeal to home buyers with a larger deposit or homeowners with at least 15% equity in their property.
“Now could be an ideal time for borrowers to lock into a competitive deal – this time of year is traditionally peak season for remortgaging and it’s worth homeowners reviewing whether switching to a more competitive deal while rates are low could bring down their monthly repayments or shorten their mortgage term, and provide them with longer-term security of payment over the next five years.”