Leeds launches 5-year fixes

Sarah Davidson

November 14, 2014

All products incur a £1,999 fee, while they also come with a free standard valuation up to £335, no higher lending charge and allow 10% capital repayments per year without penalty.

Martin Richardson, Leeds Building Society’s general manager – business development, said: “We expect these new 5-year deals to appeal to home buyers with a larger deposit or homeowners with at least 20% 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.”

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