Leeds Building Society launches new sub 5% mortgage

02-Nov-2006

Leeds Building Society has launched a new mortgage below five per cent that may be suitable for first time buyers.

Available with a loan-to-value (LTV) up to 95 per cent, Leeds Building Society's new two-year discounted mortgage is currently available at an interest rate of 4.99 per cent and free of any higher lending fees up to a 90 per cent LTV that may benefit first time buyers.

Leeds Building Society's discounted mortgage option offers a 1.75 per cent interest rate discount, although a completion fee is applicable for loan applications up to £500,000.

"With market rates on the increase, a mortgage at only 4.99 per cent offers outstanding value," said Karen Wint, head of marketing and public relations at Leeds Building Society.

A fee-free version is also available with a 1.25 per cent interest rate discount for two years, with an initial interest rate of 5.49 per cent.

Leeds Building Society also offers a range of online mortgage products, with interest rates ranging from 4.75 per cent to 7.04 per cent.

To find out more about this mortgage, contact a good mortgage broker.

As the market for first time buyers toughens, new companies are offering new services to help first time buyers buy new properties by working with the house-builders.

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