Leek launches interest-only mortgage

Michael Lloyd

February 6, 2019

Leek United has launched a suite of mortgages including fixed rates with interest-only, cashback and no fees options as well as buy-to-let discounts and mortgages with no ERCs.

The interest only 2-year fixed rate has discount interest rates starting at just 1.99% with a fee, or 2.30% without, and a maximum LTV of 75%. There’s also a 95% maximum LTV are introduced including a 2-year and 5-year fixed rates with no fee and £500 cashback, as well as free valuations on all mortgages.

Lisa Buckley, the society’s head of marketing and mortgage sales, said: “We’re delighted to introduce this new range of innovative mortgages.

“We have listened to our broker partners and their desire to write more business with us which is very important to the intermediary team. We’ve been highly responsive to the needs of brokers and I’m sure the new fixed rate interest only product will prove to be a hit.

“But we’ve also continued to improve opportunities to help brokers with buy to let landlord products which are still proving popular. We’ve also introduced new products to help first time buyers get their new home and start their journey on the housing ladder.

”We’re delighted to have had so much positive feedback from our introducers and look forward to helping them develop more business as we continue to provide a first class service and exciting new products.”

The new Leek United mortgages range also includes options for buy-to-let landlords with fixed rate and discounted products, including first-time and non-homeowners landlords. The Leek also offer mortgages for holiday homes and second homes.

The Leek has introduced an intermediary online affordability calculator for residential mortgages.

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