Leeds Building Society announces ten-year fixed-rate mortgage

15-Nov-2006

First time buyers worried about future interest rate rises may benefit from Leeds Building Society's ten-year fixed-rate mortgage package.

Available to repeat purchasers, in addition to first time buyers, the mortgage lender's ten-year package offers an interest rate of 4.99 per cent, up to a loan-to-value of 90 per cent.

The loan is available without a higher lending fee and overpayment is permitted without penalty, up to ten per cent of the capital each year.

"With [the Bank of England base rate] currently at five per cent, this product will prove attractive for many people who do not want to take any risks on the path of future interest rates and protect themselves against any increases," said Ian Ward, chief executive of Leeds Building Society.

Although a completion fee of £749 applies to loans up to £500,000, a fee free alternative is available, with interest rates fixed at 4.49 per cent for ten years.

Leeds Building Society offers a range of products, including savings accounts and credit cards.

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

Click here for further information on finding a deposit.

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