Leeds and LSL launch 95pc fixed rate
The product comes with a free valuation for both purchases and remortgages, free legal services for remortgages and a booking fee of £199 payable at application.
David Copland, director of mortgage services for LSL’s financial services division, said: “As the market improves it is important that we continue to offer our advisers more and better choices for their clients.
“Higher LTV products fulfil a need for those that can afford the repayments but have found it difficult to save for a larger deposit during the economic downturn.”
Phil Coombes, head of intermediary sales at the Leeds, said: “We are continually working with our intermediary partners and have developed this exclusive product, together with LSL Property Services, to provide a real solution for purchasers and those remortgaging with either smaller deposits or lower equity.”
The maximum loan is £300,000, or £400,000 up to 90% LTV, and has tapered early repayment charges of 4,3, and 2% of the amount redeemed.
There is no higher lending charge and 10% capital repayments are allowed each year.