Leeds launches fixed rate
The product, which has a rate of 1.89 per cent fixed for the first 2 years, will help customers minimise their outgoings in the early part of the mortgage, before it reverts to Standard Variable Rate.
Karen Wint, Head of Marketing & PR said “We have specifically designed this product to support customers in the first 2 years of their mortgage, fixing payments to a minimum and allowing customers to budget. This will enable many first time buyers get a foot on the housing ladder and benefit from any growth in the housing market.
“Customers should have seen an increase in income during the first 2 years and been able to plan effectively for the remaining term. We expect this product to be popular given the current challenges faced by many customers trying to get onto the housing ladder.
“We offer a complete advice service through our branch network and our trained mortgage advisors will help customers assess whether this type of product is right for their specific circumstances. We have a full range of traditional fixed rates, trackers and discounts to chose from and this new product complements our range.”